President Bola Ahmed Tinubu has urged Nigerians to adopt effective management strategies to reduce their electricity bills amidst the rising cost of living in the country. Speaking on Monday at his Bourdillon residence in the upscale Ikoyi area of Lagos, Tinubu emphasized the importance of energy conservation as a means to manage household expenses.
“It’s not a negative thing to learn how to manage. You can control your electricity bill by switching off lights when not in use. Let’s cultivate the habit of managing resources effectively,” Tinubu advised during an interaction with reporters.
The President, who is also a prominent figure in the All Progressives Congress (APC), made it clear that he does not support the idea of price control as a solution to the economic challenges facing the country. “I don’t believe in price control,” he stated. “We will focus on increasing supply to meet the demands of the market.”
Since Tinubu’s inauguration in May 2023, Nigerians have faced significant economic pressures following the removal of petrol subsidies and an increase in electricity tariffs. Petrol prices have more than quadrupled, rising from less than ₦200 per litre to over ₦1,100 in many parts of the country. The naira has also seen a sharp decline, plunging from around ₦700/$ to over ₦1,600/$.
On April 3, 2024, the Nigerian Electricity Regulatory Commission (NERC) implemented a steep tariff hike for customers under the Band A classification, raising rates from ₦66 to ₦225 per kilowatt-hour. This move has drawn widespread criticism, as many Nigerians struggle to cope with the immediate impact of the tariff increase amidst already challenging economic conditions.
The sharp rise in energy costs has compounded the effects of food and commodity inflation, plunging the country into what many describe as the worst cost-of-living crisis since Nigeria gained independence over 60 years ago. Despite these hardships, Tinubu has remained steadfast, defending his administration’s reforms as necessary steps to stabilize the economy and lay a foundation for long-term prosperity.
While his policies have sparked intense debate, Tinubu continues to emphasize the need for Nigerians to adjust their consumption patterns and embrace more sustainable habits during these challenging times.
