A notable figure within the All Progressives Congress (APC), Ambassador Ibrahim Olesin has issued a stark warning to President Bola Tinubu regarding the proposed removal of electricity subsidies, a measure supported by the International Monetary Fund (IMF) among other entities.
Olesin’s cautionary stance highlights concerns that such a move could exacerbate the prevailing economic hardships faced by Nigerians and potentially lead to unrest.
In his statement, Olesin underscored the critical role that electricity and petrol play in the daily lives of Nigerians, pointing out that the country has already witnessed protests in various parts over economic difficulties.
“Hunger is not a good mix on the menu for a people whose very existence revolves around electricity and petrol,” he remarked, emphasizing the sensitivity of the issue.
The APC chieftain elaborated on the dire implications of subsidy removal, arguing that it would impose an intolerable financial burden on ordinary citizens, who are already grappling with economic challenges.
This situation, he cautioned, could spiral into chaos if the government proceeds with the subsidy cut without considering its impact on the populace.
The APC chieftain said, “In a country where a significant portion of the population lives below the poverty line, any increase in utility costs will directly impact the ability of families to afford necessities. Hunger is not a good mix on the menu for a people whose very existence revolves around electricity and petrol.”
“With stagnant wages and rising inflation, the prospect of higher electricity bills is simply untenable for millions of households. Nigeria is already grappling with a myriad of economic challenges, including high unemployment rates, sluggish growth, and a depreciating currency.
The removal of electricity subsidies would only serve to exacerbate these issues, further eroding purchasing power and deepening the economic hardship faced by the average citizen.
Furthermore, the removal of subsidies on electricity is likely to ignite widespread social unrest and civil disobedience. Nigerians are already frustrated and disillusioned with the government’s inability to provide essential services, and any further austerity measures are likely to push them to the breaking point”.
