President Bola Tinubu has suggested Nigerians to undertake higher vitality administration practices to deal with rising electrical energy payments.
“It’s not detrimental to be taught to handle. You be taught to regulate your electrical energy invoice, change off the sunshine, let’s be taught to handle,” Tinubu stated on Monday throughout a media chat at his residence in Ikoyi, Lagos.
The President additionally dismissed the concept of worth management, stating, “I don’t consider in worth management, we are going to work arduous to provide the market.”
Since his inauguration in Could 2023, vitality prices have surged following the removing of the petrol subsidy and a rise in electrical energy tariffs.
Petrol costs have skyrocketed from lower than ₦200 per litre to over ₦1,100 in components of the nation, whereas the naira has depreciated considerably, plummeting from round ₦700/$ to as little as ₦1,600/$.
The President defended his reforms earlier within the chat, saying that he had no regrets about eradicating the gasoline subsidy.
He stated the subsidy was draining the nation’s sources and jeopardising future investments.
In April 2024, the electrical energy regulatory fee raised tariffs for patrons underneath the Band A classification, rising charges from ₦66 per kilowatt-hour to ₦225.
The hike, coupled with financial hardships, has drawn widespread criticism from Nigerians already grappling with inflation and lowered buying energy.
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