NEWSXTRA
What Nigerians Should Know About The Electricity Tariff Hike – TMSG
As more critical voices speak out against recent electricity tariff adjustments, the Tinubu Media Support Group (TMSG) insists that public outrage was unnecessary because only 15% of the Band A category was targeted in the adjustment.
In a statement, the group claimed that the majority of consumers and poor Nigerians will continue to receive subsidies, while condemning a vocal minority’s attempt to misrepresent the policy trust in front of unsuspecting Nigerians.
TMSG Chairman Jesutega Onokpasa, who flagged the bruhaha that accompanied the policy on Monday in Abuja, in attempt to patch up the lies and inconsistensies, said the government deserves some credit for signing off on an action that protected 85% of electricity consumers from tariff increases while also paving the way for improved power supply in the medium and long term.
“We saw how some individuals and groups were vying for media space to spread misinformation about the recent tariff adjustment announced by the National Electricity Regulatory Commission (NERC) and felt compelled to join the fray in order to debunk the lies.
“Much has been said about the price increase from N66 kilowatt per KW/h to N225 for Band A consumers who receive 20+ hours of electricity per day, but it is being portrayed as a general tariff hike.
“While it is true that the last tariff hike in Nigeria occurred in 2020, distribution companies (DisCos) have been angling for what they describe as cost-reflective tariffs to help businesses recover costs and boost investment, but it is to President Tinubu’s credit that what we have is a price adjustment that affects only consumers who consume approximately 40% of distributed power.
“Additionally, 300 of the 800 feeders on Band A were removed. Most of these are intended for residential use. As a result, ordinary electricity consumers will see no increase other than those in Bands B, C, D, and E. Also, those who will see an increase will benefit from lower rates than the alternative power sources they were using,” the group stated.
TMSG also denied claims that the new premium electricity tariff would reduce productivity in the case of manufacturers.
“We believe that the essence of the tariff adjustment is to provide that category of consumers with more power, reduce their reliance on diesel-powered generators, and lower their production costs. This is one way to boost the economy.
“So we are convinced that those who claim that manufacturers will pass on the additional cost to consumers are being deceptive. What they get is a reduction in production costs, so the consumer should expect lower prices.
“We see it as a win-win for both manufacturers and citizens.” You can not make an omelette without breaking eggs, so ensuring a consistent power supply is critical to increasing industrial production capacity. Improved productive capacity benefits the citizens. So it benefits everyone.
“We make the bold claim that no major manufacturer or industry player, including their umbrella body, the Manufacturers Association of Nigeria (MAN), has complained about the situation. “They understand that it will result in a reduction in production costs,” TMSG explained.
The pro-Tinubu group also accused opposition elements of attempting to gain political capital from a simple action.
It stated: “We are not surprised to see the opposition capitalising on the hysteria that an increase in tariffs generates without conducting a thorough analysis of the actual situation.
“The poor and the less privileged continue to benefit from electricity subsidies, and we urge Nigerians to ignore the baseless postulations and evil machinations of those twisting facts on this issue to mislead the public for their own selfish political interests.”
TMSG applauded NERC for sanctioning the Abuja Electricity Distribution Company AEDC and urged it to keep a close eye on the DisCos to ensure they keep their end of the bargain and do not shortchange Nigerians.
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