Olatunbosun Oyintiloye, a prominent member of the All Progressives Congress (APC) in Osun State, has commended President Bola Tinubu’s order to stop the implementation of the energy pricing hike.
Olatunbosun Oyintiloye, speaking to media on Sunday in Osogbo, stressed that President Bola Tinubu’s order demonstrated his attentiveness to the problems encountered by the general public.
Minister of Power Adebayo Adelabu revealed on November 8 that President Tinubu had intervened to stop the execution of a rise in energy tariffs, insisting instead on providing subsidies for power use across the country, as previously reported by Newsmen.
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APC Presidential Campaign Council (PCC) member Oyintiloye stated that he thought it would have been counterproductive to remove the energy subsidy while Nigerians were still suffering from the withdrawal of the petrol subsidy.
Olatunbosun Oyintiloye claimed that President Bola Tinubu’s choice to speak out against the increase in electricity rates demonstrated his ongoing cognizance of the feelings and goals of Nigerians.
The APC mainstay emphasised that the Federal Government’s power sector subsidy had increased significantly, from N36 billion in the first quarter of 2023 to N135.2 billion in the second quarter, according to the Nigerian Electricity Regulatory Commission’s (NERC) quarterly report.
Oyintiloye drew attention to the fact that the NERC reports emphasised the continued government subsidy for energy, stressing that eliminating this subsidy would have placed an additional burden on the general public because it filled the gap between the allowable tariff cost and the reflecting tariff cost.
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“We need to commend the President for not allowing the hike in electricity tariff at this moment to scale through.
“This really shows that the President means well for Nigerians and all his economic policies are in line and tune of reality, which are in the best interest of the populace.
“Removing electricity subsidy at this time while Nigerians are still struggling with the effects of fuel subsidy removal will not have been the best.
“But because the President is a man who understands what people are presently going through in terms of exchange rate, galloping inflation, among others.
“And the President is working so hard to make Nigerians smile again; that is the reason he did not allow the hike to scale through”, he said.
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