Ibrahim Tajudeen Shola, a chieftain of the All Progressives Congress (APC), has advised President Bola Ahmed Tinubu to reject the International Monetary Fund (IMF) recommendation to remove electricity subsidies.
In an open letter to the President, Shola warned that such an action could intensify the suffering of the poor masses and potentially lead to serious chaos in the country.
In its recent report, the IMF emphasized the need to eliminate fuel and electricity subsidies to redirect resources towards more targeted and impactful social welfare programs.
Shola argued that removing electricity subsidies would impose an unbearable burden on the already strained finances of ordinary Nigerians.
He warned that the timing of such a proposal is unfortunate, considering the widespread frustration and disillusionment among Nigerians due to the government’s inability to provide essential services.
He cautioned that further austerity measures could push the populace to the breaking point and lead to social unrest.
“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,” he said.
