The Tinubu Media Support Group (TMSG) has addressed the public outcry regarding the removal of electricity subsidy for 15 per cent of consumers, stating that it is unwarranted since the majority of Nigerians will still benefit from the subsidy.
The group criticized the efforts to distort government policy by asserting that the price hike for electricity consumers in the Band A category impacts all consumers.
In a statement released on Monday by its Chairman, Jesutega Onokpasa, the group commended President Bola Tinubu for approving an action that shields 85 per cent of electricity consumers from tariff increases. They also highlighted that this action lays the groundwork for enhanced power supply in the medium and long term.
It said: “We have seen how some individuals and groups have been jostling for media space to dish out misinformation on the recent tariff adjustment announced by the National Electricity Regulatory Commission (NERC) and felt the need to join the fray in order to debunk the lies.
“So much has been said about the price increase from N66 kilowatt per KW/h to N225 for consumers in Band A who enjoy 20+ hours of electricity supply daily but surprisingly it’s being made to look like a general hike in tariff.
“While it is true that the last tariff hike in Nigeria was in 2020, the distribution companies DisCos have been angling for what they described as cost-reflective tariff to help businesses recover costs and boost investment but it is to the credit of President Tinubu that what we have is a price adjustment that affects only consumers enjoying about 40 per cent of distributed power.
“In addition, out of 800 feeders on Band A, 300 were removed. These are mostly those meant for residences. So, in effect, ordinary electricity consumers will experience no increase outside of consumers in Band B,C, D, and E. Also, those that will experience increase will receive benefits of lower rates than the alternative power sources they were using.”
