Posted by An rise in electricity costs that the Coalition of United Political Parties (CUPP) deems anti-masses has been denied.
The group’s position was that the rise is coming at a particularly bad moment for the masses, thus it opposed it.
As CUPP put it, “one increase too many.” They urged the government to stop looking out for itself and start serving the people.
“This administration is incredibly callous. The group’s general secretary, High Chief Peter Ameh Yakubu, issued a statement claiming that the group had any economic strategies to promote economic growth.
A careless policy of addressing immediate downstream sectors would have disastrous consequences, but they don’t consider them.
Because of this, local manufacturers should expect manufacturing costs to rise; as a result, some factories may choose to relocate or shut down.
Which is why Tinubu’s plan to use the romance economy to fix the dollar-naira ratio will backfire.
More anti-people, anti-small business, and anti-social welfare policies were pushed through by the government through NERC, further plunging our people into multidimensional poverty.
You might recall that early this year, the World Bank and the International Monetary Fund publicly requested that the Nigerian government discontinue the electricity subsidy.
Because no region or part of Nigeria experiences anything near 20 hours of electricity, the introduction of Band A—which covers around 15% of all consumers in Nigeria—may not even conclude there.
“The already dire position of the masses will be made even worse as the government, through NERC, gradually extends the hike to non-Band A consumers.
There will undoubtedly be more people complaining about their poor incomes, albeit it might not be at a rate of 240%. The unanticipated and severe economic consequences on our people will most certainly not abate as a result of this meteoric rise.
Band A consumers would feel the pinch of a cost-push inflation as a result of the 240% tariff hike, which will force businesses to pass the expense of the levy on to customers.
I was wondering whether Tinubu has economic councils and, if so, if they consist of market strategists and seasoned political economists.
“When it comes to economic planning for the nation’s growth and the people’s welfare, they seem to lack sensitivity and foresight.”