Electricity Subsidy: Tinubu Is Working Hard To Make Nigerians Smile – APC Chieftain
APC Member Commends President Tinubu’s Stance on Electricity Tariff Hike
Olatunbosun Oyintiloye, a prominent member of the All Progressives Congress (APC) in Osun State, has lauded President Bola Tinubu’s decisive action to halt the implementation of the proposed electricity tariff hike.
Emphasizing the President’s responsiveness to the people’s challenges, Oyintiloye commended Tinubu’s directive, affirming it as a step in the right direction for the nation.
Speaking to journalists in Osogbo on Sunday, Oyintiloye underscored Tinubu’s commitment to addressing the concerns of the masses.
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The intervention by President Tinubu, as disclosed by the Minister of Power Adebayo Adelabu on November 8, aimed to suspend the electricity tariff increase and maintain a nationwide power consumption subsidy.
Oyintiloye, a member of the now-defunct APC Presidential Campaign Council (PCC), expressed apprehensions about removing the electricity subsidy while Nigerians were still reeling from the repercussions of fuel subsidy removal, deeming it counterproductive.
Highlighting the Nigerian Electricity Regulatory Commission’s (NERC) quarterly report, Oyintiloye pointed out a substantial increase in the government’s subsidy in the power sector, rising from N36 billion in the first quarter to N135.2 billion in the second quarter of 2023.
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According to Oyintiloye, the NERC reports highlighted the necessity of the ongoing government subsidy for electricity.
He emphasized that eliminating this subsidy, which bridges the gap between reflective tariff cost and allowed tariff cost, would have imposed an additional burden on the populace.
“We need to commend the President for not allowing the hike in electricity tariff at this moment to scale through.
This really shows that the President means well for Nigerians and all his economic policies are in line with reality, which are in the best interest of the populace,” Oyintiloye stated.
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Acknowledging the challenges faced by Nigerians amidst economic instability, inflation, and exchange rate fluctuations, Oyintiloye commended Tinubu’s efforts in striving to alleviate the burdens on citizens. He credited the President’s decision as a pivotal step towards ensuring relief for Nigerians amidst these trying times.
