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Tinubu, Ministers Not Responsible 240% Electricity Tarrif Hike – NLC

Published

8 months ago

Apr 6, 2024.

NLC clarifies Tinubu and Ministers not responsible for 240% electricity tariff hike.
World Bank and IMF identified as driving forces behind increase.
Upah condemns hike, predicts negative consequences for businesses and economy.

EKO HOT BLOG reports that the Nigeria Labour Congress (NLC) has clarified that neither President Bola Tinubu nor Minister of Power, Adebayo Adelabu, are accountable for the 240 percent tariff hike affecting power consumers in the ‘A’ category band.

According to Benson Upah, the Head of Information at NLC, in an interview with Punch, the driving forces behind this significant tariff increase are the World Bank and the International Monetary Fund (IMF).

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He further described the electricity tariff hike as wicked and unpopular, stressing that since the government preferred to listen to the World Bank and IMF, it should be ready to face the consequences.

He said, “We did say earlier that this tariff hike is insensitive and unpopular. So if the government elects to continue with the hike or persists in something that is evil, I’m sure it is equally prepared for the consequences of that evil.

240% Electricity Tarrif Hike

“The manufacturers are saying this is going to hurt businesses and make the environment more hostile, and we also said so. There is no place in the world where high power tariffs have supported manufacturing. Not even in the developed world.

“So, it completely beats our imagination for the minister to have the audacity to say that the policy would continue. What this means is that the minister and the President are not in charge. It is saddening that the minister elected to pursue an unpopular policy.

“It shows that the minister and the President are not in charge. The people in charge are the World Bank and the IMF. They are the ones driving this highly injurious policy.