The Trade Union Congress has issued a stern warning, this time, the union is asking the federal government to go back to old electricity tariff or face the consequences of its action.
It described the decision as ‘wicked’ and ‘another betrayal of trust’ by the federal government.
This was contained in a statement by the TUC president, Quadri Olaleye, and the secretary-general, Musa Lawal, titled, ‘electricity hike: another betrayal of trust’.
The congress wondered “why this government brings up unfriendly policies that are capable of crippling the economy and the Nigerian people.
It said many companies which could not pay the previous tariff hikes had either closed shop or relocated to neighbouring countries.
The federal government again increased the electricity tariff payable by power consumers across the country.
However, the Nigerian Electricity Regulatory Commission (NERC) issued a statement, denying a 50 per cent hike.
The regulatory agency blamed N2 to N4 adjustment in tariff on inflation and movement in foreign exchange rates.
The NERC had announced the tariff hike in its December 2020 minor review of the multi year tariff order and minimum remittance order.