Olatunbosun Oyintiloye, a member of the ruling All Progressives Congress (APC) in Osun State, has applauded President Bola Tinubu’s directive to halt the implementation of the electricity tariff hike.
He stated that the President meant well for the country and should be commended for his efforts.
Speaking to journalists on Sunday in Osogbo, Olatunbosun Oyintiloye emphasized that President Bola Tinubu’s directive showcased his responsiveness to the challenges faced by the masses.
The Minister of Power Adebayo Adelabu disclosed on November 8 that President Tinubu had intervened to halt the implementation of an electricity tariff increase, insisting on subsidizing power consumption nationwide.
Oyintiloye, a member of the now-defunct APC Presidential Campaign Council (PCC), expressed the view that eliminating electricity subsidy while Nigerians were still grappling with the repercussions of fuel subsidy removal would have been counterproductive.
Olatunbosun Oyintiloye asserted that President Bola Tinubu’s decision to address the electricity tariff hike reflected his continuous awareness of the sentiments and aspirations of Nigerians.
The APC stalwart highlighted that the Nigerian Electricity Regulatory Commission (NERC) quarterly report indicated a substantial increase in the Federal Government’s subsidy in the power sector, soaring from N36 billion in the first quarter to N135.2 billion in the second quarter of 2023.
Oyintiloye pointed out that the NERC reports underscored the ongoing government subsidy for electricity, emphasizing that removing this subsidy, which bridged the gap between the reflective tariff cost and the allowed tariff cost, would have imposed an additional burden on the masses.
“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.