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NIGERIANS REACT TO IMF CALL ON FEDERAL GOVERNMENT FOR TOTAL REMOVAL OF SUBSIDY ON ELECTRICITY

Following call on Federal Government of Nigeria by International Monetary Fund (IMF) for total removal of subsidy on fuel and electricity, Nigerians have expressed shock, hence react.

The international financial institution made the call on Tinubu Administration in its Post Financial Assessment (PFA) report as pathway to restoring macroeconomic sustainability. The body advised government to focus on revenue mobilization and digitalization to improve service delivery and safeguard fiscal sustainability.

Considering high cost of living in the country at the moment, brought about by subsidy removal on petroleum products which President Bola Ahmed Tinubu had announced in his inaugural speech last year, accompanied by floating of the naira, Nigerians are certain to be further plunged into unbearable hardship should Mr President pay heed by going ahead to remove subsidy on electricity. 

A sachet water business owner who spoke to
Ideal Reporters on the condition of anonymity said "I rely on electricity for for my business, so do many others". He also added that " Should subsidy be removed totally on electricity, increase in tariff may push us out of business since it would no longer be affordable and we cannot afford to buy fuel ". 

Quite a number of citizens have continued to express concern over this development, stating their fear for possible hardship if subsidy is removed. So many businesses have been forced to resort to use of electricity for their production, given high cost of fuel.

High increase in electricity tariff is imminent, were subsidy to be removed, just like what obtained in the case of fuel. Reality is, such suggestion has the potential of increasing cost of living, closing down businesses, big and small, something that would give rise to more unemployment, raise the bar of poverty to a whole new level and breed crime. Either of these portend doom for the country.

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