The Chief Executive of the All Progressives Congress in Osun State, Olatunbosun Oyintiloye, has commended President Bola Tinubu for his directive to stop implementing the electricity tariff hike.
The APC boss made the commendation while speaking to journalists on Sunday in Osogbo, the state capital.
Oyinloye said the directive is a true reflection of the president’s sensitivity to the plight of the masses.
Recall that the Minister of Energy, Adebayo Adelabu, on November 8, 2023, disclosed that President Tinubu had recently suspended the implementation of the electricity tariff increase.
The president also insisted that energy consumption subsidies be paid across the country.
Oyintiloye, a member of the now defunct APC Presidential Campaign Council, said it would be counterproductive to remove electricity subsidy while Nigerians are still grappling with the impact of the removal of fuel subsidy.
He said the president’s decision on electricity hike shows that he is constantly in touch with the feelings and aspirations of Nigerians.
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The APC boss said the Federal Government subsidy to the power sector reached N135.2 billion in the second quarter of 2023 in the quarterly report of the Nigerian Electricity Regulatory Commission (NERC).
The amount, according to him, represents an increase of N99.21 billion or 27 percent over the N36 billion paid in the first quarter of 2023.
Oyintiloye noted that the NERC report revealed that the government continues to subsidize electricity for the masses.
He said removing electricity subsidies, which the government continues to pay to bridge the gap between reflective tariff costs and permitted costs, would be another burden on the masses.
Oyintiloye said: “The president must be commended for not allowing an increase in the electricity tariff at this time.
“It truly shows that the president meant well for Nigerians and all his economic policies are in line with reality and in the best interest of society.
“Removing electricity subsidy at a time when Nigerians are still grappling with the impact of the removal of fuel subsidy will not be the best.
“But because the president is a man who understands what people are going through right now, including the exchange rate, galloping inflation.”