President Bola Tinubu has called on Nigerians to improve their management skills in reducing electricity bills, emphasizing the importance of energy efficiency during challenging economic times.
“It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage,” Tinubu said on Monday while addressing reporters at his Bourdillon residence in the upscale Ikoyi area of Lagos State.
The President, who is also a prominent All Progressives Congress (APC) leader, stated that he does not subscribe to price control as a solution to the economic crisis.
“I don’t believe in price control; we will work hard to supply the market,” he asserted.
Since Tinubu’s inauguration in May 2023, Nigerians have faced skyrocketing energy costs.
The removal of the petrol subsidy and a significant hike in electricity tariffs have led to petrol prices surging from less than N200 per litre to over N1,100 in several regions.
The naira’s steep devaluation, sliding from around N700/$ to over N1,600, has compounded the cost-of-living crisis.
In April 2024, the electricity regulator announced a new tariff structure, raising the cost for customers under the Band A classification to N225 per kilowatt-hour from N66.
This increase, implemented swiftly, has drawn widespread criticism amidst ongoing economic hardship.
Food and commodity inflation have reached unprecedented levels, with many Nigerians grappling with what is arguably the worst cost-of-living crisis since independence.
Despite public outcry, President Tinubu has maintained that his reforms are critical to steering the nation towards long-term economic prosperity.
“We understand the pains and sacrifices, but these are necessary adjustments to secure a better future for Nigeria,” he said in defense of his policies.
As Nigerians adjust to these reforms, Tinubu’s advice to manage energy usage more efficiently serves as a practical measure for households striving to cope with rising costs.
However, critics argue that the government must also intensify efforts to address systemic issues and provide relief to the populace.