In an exclusive statement to Media Talk Africa, Olatunbosun Oyintiloye, a prominent member of the All Progressives Congress (APC) in Osun State, has hailed President Bola Tinubu’s compassionate stance on the proposed electricity tariff increase, expressing gratitude for the President’s resolute commitment to the welfare of the Nigerian populace.
Recounting the pivotal intervention, Oyintiloye, in a conversation with journalists in Osogbo, highlighted the disclosure made by the Minister of Power, Adebayo Adelabu, on November 8. Adelabu revealed Tinubu’s decisive action to forestall the surge in electricity tariffs, emphasizing the imperative of subsidizing power consumption nationwide.
He underscored the Minister’s assertion that eliminating the electricity subsidy whilst Nigerians grappled with the repercussions of fuel subsidy removal would be counterproductive, exacerbating the burden on citizens already contending with economic challenges.
Oyintiloye reiterated the significance of President Tinubu’s empathy-laden decision, elucidating the discernible resonance with the sentiments and aspirations of Nigerians. He referenced the quarterly report by the Nigerian Electricity Regulatory Commission (NERC), which unveiled a substantial increase in the federal government’s subsidy within the power sector, surging to N135.2 billion in the second quarter of 2023 from N36 billion in the preceding term.
Expounding on the report, he underscored the government’s ongoing subsidization of electricity, emphasizing the inherent relief this affords to the populace. Oyintiloye outlined the pronounced implications of rescinding the electricity subsidy, emphasising the potential exacerbation of the burden on the masses, and lauded President Tinubu for his strategic foresight in safeguarding the welfare of Nigerians.
He commended the President’s judicious stance, aligning his economic policies with the prevailing reality and prioritising the best interests of the citizenry, particularly amidst the prevailing economic challenges. Noting the palpable impact of the exchange rate fluctuations and escalating inflation, Oyintiloye underscored President Tinubu’s unwavering commitment to alleviating the hardships faced by Nigerians, affirming that the decision to prevent the tariff hike exemplifies the President’s profound understanding of the citizens’ realities and his concerted efforts to restore their well-being.
