A development economist, Ayo Ayalowo, has urged President Bola Tinubu’s administration and the Nigerian Electricity Regulatory Commission to discard bands A, B, and C, citing the ongoing power supply challenges experienced by Nigerians.
Speaking on Channels Television during an interview on Tuesday, he underscored that spikes in energy expenses, particularly electricity and diesel, are primary drivers of the surging inflation in Nigeria.
Recall that on April 3, 2024, NERC announced a hike in the electricity tariff from ₦66 to ₦225 per kilowatt-hour for customers in Band A.
Ayalowo suggested that the government should reconsider its recently introduced 240% electricity tariff increase for Band A customers who receive 20 hours of power supply.
He emphasized that despite the tariff hike, Nigerians are still not receiving adequate power supply.
“The energy prices, especially this Band A, Band B, and C nonsense, need to be jettisoned. And a sensible approach must be taken so that Nigerians can enjoy electricity at a reasonable cost. NERC needs to go back and rejig the tariff and stop the nonsense band classification because Nigerians are still not getting power supply.
“I will suggest that the Minister of Power and Nigerian Electricity Regulatory Commission would have increased tariff marginally across the board, not cheating Paul to pay Peter as they are doing”, he stated.
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