The 241% increase in Electricity Tariff-  Tinubu Set to Extinct Nigerians

The 241% increase in Electricity Tariff-  Tinubu Set to Extinct Nigerians

By Olufemi Adegbulugbe

Federalist Majority

…Under Tinubu, the common Nigerian faces extinction.

Q1.

How can a Government or any Government increase the price of goods or services by 250% in one sweep. Think about the economic implications especially inflation.

Q2.

They say only Band A is affected and is 15% of the consumers.

What they have done is set or increase the tariffs for Band A and very soon, we will all the classified as Band A. You can take this to the bank.

Q3.

Why should you pay more for enjoying 20 hours power supply?

In economics, those having access to more power supply should enjoy lesser tariffs.

The person that spends or buy goods worth N100,000 in a store certainly deserves discount over the person that spends N1,000 in a store.

In simple English, the more you buy, the lesser the unit price.

Therefore, those enjoying 20 hours power supply deserve a lower tariff than those enjoying 4 Hours power supply because they are buying and consuming more units of power. Economies of scale applies!

Our Government is not in short supply of scams!

Q4:

With this recent price increase, i think for low consumers of energy, it may be actually cheaper to operate a petrol generator than connect to the Band A national grid.

If you are not consuming more than 3 Kilowatts per day, you may wish to do the arithmetic and consider using a 1-2KVA petrol generator. This is where we are with Tinubu-kalo-kalo economics.

In the coming days, barbers will increase the price of their services. Hotels will follow suit. Hawkers of soft drinks will do same. Manufacturers of ice blocks in bands A, B and C will increase the price of ice blocks.

The entire economy will be impacted but clueless leaders tell us only 15% of consumers is affected.

The key impacts:

This development has simply increased the cost of production in Nigeria.

As prices continue to go up, demand will fall and factories will begin to close down. There will be unemployment in addition to inflation. Unemployment will lead to increased crime and insecurity.

Tinubu is a big curse on Nigeria, with due respect.

Between, Nigerians are fast acquiring the reputation as the most gullible set of people on planet earth, with the SW leading.

*Nigeria is in the wrong hands*

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