The FG is set to increase electricity tariff by 40% starting from 1st July in order to end all forms of subsidy in the energy sectors in the country.
Recall that the FG implemented subsidy removal on petrol on, which was accompanied by a series of hardships among Nigerians due to the poor economy.
The student loan bill that was passed into law alongside the local currency which was recently devalued. This recent development has brought us to the second subsidy removal in a span of three weeks.
Under the Buhari administration, a thousand naira could buy 16 units of electricity but with the recent development, a thousand naira will now buy 10 units or less.
This has caused great worry among Nigerians who are now appealing to the government to implement cost cutting measures for these new policies and also carry them along because it will have a serious ripple effect on them.
According to reports, the government pays N50 billion monthly for subsidies in the electricity sector due to inadequate revenue.
Recall that the FG implemented subsidy removal on petrol on, which was accompanied by a series of hardships among Nigerians due to the poor economy.
The student loan bill that was passed into law alongside the local currency which was recently devalued. This recent development has brought us to the second subsidy removal in a span of three weeks.
Under the Buhari administration, a thousand naira could buy 16 units of electricity but with the recent development, a thousand naira will now buy 10 units or less.
This has caused great worry among Nigerians who are now appealing to the government to implement cost cutting measures for these new policies and also carry them along because it will have a serious ripple effect on them.
According to reports, the government pays N50 billion monthly for subsidies in the electricity sector due to inadequate revenue.