Atiku Abubakar Warns Against Tinubu’s Proposed Electricity Price Hike

In a recent statement, opposition leader Atiku Abubakar criticized President Bola Tinubu’s proposed electricity price hike, warning that it could have dire consequences for Nigeria’s manufacturing sector and further plunge citizens into poverty. Atiku raised concerns over the lack of adequate notice and post-reform plans to mitigate the potential negative impacts on citizens.

The timing of the proposed increase, amidst existing economic challenges such as the withdrawal of the PMS subsidy and currency fluctuations, has raised alarm bells for Atiku. He highlighted the ongoing difficulties faced by Nigerian citizens and the potential inflationary pressures that could worsen with the electricity tariff hike.

Atiku emphasized the detrimental effects on the manufacturing sector, citing increased operational costs due to higher interest rates, rising diesel prices, and the recent minimum wage hike. He criticized the government’s approach, stating that the reforms lacked consideration for the well-being of the citizens and risked pushing the economy into deeper crisis.

Addressing the root cause of inefficiencies in the power sector, Atiku called for a reassessment of the privatization exercise that led to the creation of Distribution Companies (DISCOs). He urged Tinubu to prioritize sequencing the reforms, implementing measures to alleviate citizens’ hardships, and holding the Nigerian Electricity Regulatory Commission (NERC) accountable for improving service delivery.

Atiku’s statement underscores the urgent need for a comprehensive approach to address Nigeria’s energy crisis, balancing economic reforms with measures to protect the welfare of its citizens.

Atiku Abubakar

Vice President of Nigeria, 1999-2007

Yola

April 5, 2024