The hike in electricity tariff for consumers in Band A category by the Nigerian Electricity Regulatory Commission, NERC, would benefit only the International Monetary Fund, IMF.
This is the assertion of the Nigeria Labour Congress, NLC, in response to Wednesday’s announcement by NERC that henceforth electricity users enjoying a 20-hour power supply will now pay a tariff of N225 per kilowatt-hour, up from the previous rate of N68/kWh, representing about 240 per cent increase.
The development seems not to be a favourite with many people, with the NLC also pooh-poohing it by a statement credited to its spokesman, Benson Upah.
The latter in an interview with Punchng, said the hike is disadvantageous to workers with fixed salaries, and manufacturers, alleging that the only institution that stands to gain from it, is the IMF.
“The government’s decision is not only insensitive, it is callous. It further pauperises consumers, especially workers whose wages are fixed and insufficient.
“It similarly makes the operating environment more hostile for manufacturers with the potential for an astronomical rise in the cost of goods and services or the worst case scenario, more closures and loss of jobs.
“The only people who stand to gain from this mindless social violence against the people are the World Bank and IMF (International Monetary Fund),” the publication quoted Upah as saying.
