By Miracle Ogunde
In reaction to energy costs which have skyrocketed, especially with the removal of petrol subsidy and electricity tariff hikes, President Bola Tinubu has advised Nigerians to learn to manage the cost of electricity they consume to reduce their electricity bills.
During a media chat on Monday at his Bourdillon residence in Ikoyi, Lagos State, Tinubu said that he does not believe in price control and he would not go that path.
“It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage.”
“I don’t believe in price control, we will work hard to supply the market,” he said.
Tinubu, after his inauguration in May 2023, removed fuel subsidies, which have seen petrol prices more than quadrupled, soaring from less than N200 per litre to over N1,100 in many parts of the country. The naira also took a nosedive, wobbling from around N700/$ to N1,600.
On April 3, 2024, the electricity regulator raised the tariff for customers said to be under the Band A classification, with customers now paying N225 kilowatt per hour from N66, a development that has been heavily criticised by many Nigerians, considering the immediacy of the tariff hike and the current hardship in the land.
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