Members of the Nigerian Labour Congress (NLC) have come together to stop the Federal Government from the proposed increment placed on electricity tariffs which is expected to start on July 1, 2023.
It was made known in the statement signed by the NLC President, Joe Ajaero on June 22. The statement rejects the plan thereby condemning the implementation of a 40% electricity tariff increase as heartless and insensitive.
The NLC in the statement went on to say that the proposed increase by the FG clearly demonstrates an act of carelessness and disregard for the welfare of her citizens, particularly those living below average due to economic downtimes.
In the statement released by the NLC, the group pointed out specific figures that should make the FG reconsider the increase in electricity tariffs. The country has an inflation rise of 22.41% recorded in Q1 2023 and a change in exchange range from N441 to N750. All these are enough reasons for the government to be considerate of the citizens.
However, the NLC claims that even with these details, the proposed tariff rise failed to explain itself, stressing that cost and quality of service should take the lead over market reasoning.
The NLC also criticizes service providers for failing to fulfill the 5000 MW benchmark despite getting different kinds of intervention.
The NLC also expresses worry about covert tariff increases without previous warning, which not only violates regulations but also poses a serious danger by implying a lack of control. This might impose new prices on consumers as early as August.
Additionally, the NLC warns that if other companies adjust their pricing or rates, ordinary Nigerians will face the brunt of these cumulative financial pressures, eventually leading to extreme problems.
According to the NLC statement, Nigeria is becoming a society where everyone is out for themselves and there is little regard for others.
The NLC expressed worry about the numerous other charges and taxes that Nigerians must bear. The following was part of the statement:
Read more: https://www.investingport.com/nlc-not-in-support-of-fg-proposed-40-electricity-tariff-increase/
It was made known in the statement signed by the NLC President, Joe Ajaero on June 22. The statement rejects the plan thereby condemning the implementation of a 40% electricity tariff increase as heartless and insensitive.
The NLC in the statement went on to say that the proposed increase by the FG clearly demonstrates an act of carelessness and disregard for the welfare of her citizens, particularly those living below average due to economic downtimes.
In the statement released by the NLC, the group pointed out specific figures that should make the FG reconsider the increase in electricity tariffs. The country has an inflation rise of 22.41% recorded in Q1 2023 and a change in exchange range from N441 to N750. All these are enough reasons for the government to be considerate of the citizens.
However, the NLC claims that even with these details, the proposed tariff rise failed to explain itself, stressing that cost and quality of service should take the lead over market reasoning.
The NLC also criticizes service providers for failing to fulfill the 5000 MW benchmark despite getting different kinds of intervention.
The NLC also expresses worry about covert tariff increases without previous warning, which not only violates regulations but also poses a serious danger by implying a lack of control. This might impose new prices on consumers as early as August.
Additionally, the NLC warns that if other companies adjust their pricing or rates, ordinary Nigerians will face the brunt of these cumulative financial pressures, eventually leading to extreme problems.
According to the NLC statement, Nigeria is becoming a society where everyone is out for themselves and there is little regard for others.
The NLC expressed worry about the numerous other charges and taxes that Nigerians must bear. The following was part of the statement:
Read more: https://www.investingport.com/nlc-not-in-support-of-fg-proposed-40-electricity-tariff-increase/