Organised Labour has warned the Nigerian government against a planned 40% increase in electricity tariffs by July 1, claiming it will increase the burden on Nigerians. The Nigeria Labour Congress (NLC) has removed the petrol subsidy and unified Naira exchange rates, causing financial pressure on many Nigerians. The Nigeria Electricity Regulatory Commission (NERC) is currently reviewing the Multi-Year Tariff Order (MYTO) and will implement the review from July 1. The major determinants of the review are inflation rate, Naira/Dollar exchange rate, and gas price. NLC President Joe Ajaero criticized the plan as insensitive and callous, citing the over 100% increase in pump prices of premium motor spirit and a shift in exchange rate. The NLC believes the issue of capacity to pay and quality of service delivery is superior to market rationalization. The NLC advises market fundamentalists to check their conscience and consider the potential consequences of the proposed tariff hike for collective safety.
Index to Nigerian Newspapers
