Senate asks FG to subsidize electricity for Nigerians
The Senate has explained why the Federal Government should subsidise electricity for Nigerians.
The electricity distribution companies of Nigeria had told the Senate that the only condition to halt tariff hike was for the Federal Government to bear the difference between the current tariff and the proposed one.
The Senate said that the best thing for the Federal Government to do now was to take the challenge of subsidizing power by paying DISCOs the balance of the current tariff and the proposed one.
Nigerians are heavily burdened because of COVID-19. The economy has contracted by 3.2%, and that’s a lot.
“So it makes you and I to attend to some of our social problems. So, is the Federal government preferring to add a burden or lessen it?
There are two things, one is to make it more efficient and second, the government will back out just like they have done in the oil sector where subsidy has been completely removed.
Even at that, the government is reducing the pump price. So, should they, in the same vein, increase tariff? It doesn’t make sense.
I think the executive will agree, even though it’s going to come at a cost. But what cost is more than lessening the burden on the people?”