The Federal Government, on Friday, insisted on the 240 per cent hike in tariff payable by power consumers in the band ‘A’ category despite calls for its reversal.
It also revealed that the subsidised power pricing regime would be for the short term, with a transition plan to achieve a full cost-reflective tariff within a period of three years.
However, the decision did not go down well with the Nigeria Labour Congress, which told the Federal Government to prepare for the consequences of the tariff hike, which it described as wicked and unpopular, stressing that since the government preferred to listen to the World Bank and International Monetary Fund, it should be ready to face the consequences.
The Head of Information, NLC, Benson Upah, told newsmen, “We did say earlier that this tariff hike is insensitive and unpopular. So if the government elects to continue with the hike or persists in something that is evil, I’m sure it is equally prepared for the consequences of that evil.
“The manufacturers are saying this is going to hurt businesses and make the environment more hostile, and we also said so. There is no place in the world where high power tariffs have supported manufacturing. Not even in the developed world.
“So, it completely beats our imagination for the minister to have the audacity to say that the policy would continue. What this means is that the minister and the President are not in charge. It is saddening that the minister elected to pursue an unpopular policy.”
