APC leader cautions Tinubu against removing electricity subsidy

APC leader cautions Tinubu against removing electricity subsidy

A chieftain of the All Progressives Congress (APC), Amb. Ibrahim Olesin, has cautioned President Bola Tinubu against removing subsidy on electricity as suggested by the International Monetary Fund (IMF) among others, warning that the action would further compound the hardship currently experienced in the country and lead to chaos.

He recalled that Nigerians recently took to the streets in some parts of the country to protest economic hardship, adding that “hunger is not a good mix on the menu for a people whose very existence revolves around electricity and petrol.”

Olesin noted that removing subsidies on electricity would place an unbearable burden on the already strained finances of ordinary Nigerians.

The APC chieftain said: “In a country where a significant portion of the population lives below the poverty line, any increase in utility costs will directly impact the ability of families to afford necessities. Hunger is not a good mix on the menu for a people whose very existence revolves around electricity and petrol.”

“With stagnant wages and rising inflation, the prospect of higher electricity bills is simply untenable for millions of households. Nigeria is already grappling with a myriad of economic challenges, including high unemployment rates, sluggish growth, and a depreciating currency.

“The removal of electricity subsidies would only serve to exacerbate these issues, further eroding purchasing power and deepening the economic hardship faced by the average citizen.

“Furthermore, the removal of subsidies on electricity is likely to ignite widespread social unrest and civil disobedience. Nigerians are already frustrated and disillusioned with the government’s inability to provide essential services, and any further austerity measures are likely to push them to the breaking point”.