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Labour Gears Up For Action As Electricity Tariff Hike Sparks Nationwide Concern

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Labour Gears Up For Action As Electricity Tariff Hike Sparks Nationwide ConcernIn response to the recent surge in electricity tariffs announced by the Nigerian Electricity Regulatory Commission (NERC), Organised Labour, comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), is set to convene a crucial National Executive Council (NEC) meeting.....KINDLY READ THE FULL STORY HERE▶

Naija News reports that this meeting is a pivotal step ahead of the planned picketing of NERC offices, scheduled in protest against the tariff hike.

With the ultimatum issued by Organised Labour set to expire on May 12, 2024, the nation anticipates Labour’s next move.

The National Deputy President of the TUC, Tommy Etim, informed Punch newspaper that the NEC meeting is standard protocol, hinting at potentially more definitive actions post-gathering.

“The truth is that due process was not followed in the tariff hike. You cannot just announce a hike like that. It is not done anywhere. They should reverse the hike and call for stakeholders’ engagement,” Etim explained.

The outcome of the NEC meeting is poised to shape the trajectory of actions aimed at addressing the discontent over the electricity tariff adjustments.

NERC’s decision, unveiled at a press briefing on April 3, 2024, has resulted in a substantial increase in electricity costs for Band A customers to N225 per kilowatt-hour, marking a significant rise from the previous rate of ₦68/kWh.

This 240 per cent increase follows the government’s removal of electricity subsidies for Band A customers, representing about 15 per cent of the nation’s 12.82 million power consumers. The government contends that this adjustment will save ₦1.5 trillion.

Despite the government’s assurance of up to 20 hours of power supply daily for Band A customers, the tariff hike has faced extensive criticism from various quarters, including the House of Representatives, organised labour, and the Nigerian Bar Association.

In fact, the House has called for an immediate suspension of the new tariff implementation.

Tensions escalated during a Senate Committee on Power hearing, where the Minister of Power, while justifying the hike, warned of a potential nationwide blackout in three months unless the tariff increment was enforced.

However, the Senate Committee, chaired by Senator Enyinnaya Abaribe, opposed the new tariff regime.

Amidst these tensions, at the International Workers’ Day celebration in Abuja on May 1, leaders of the NLC and TUC, Ajaero and Festus Osifo, respectively, condemned the tariff increase, decrying the poor electricity supply and labeling the billing as “extortion and daylight robbery against Nigerians.”

Published by Caleb Alfred

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‘HE NEVER HIRED ME!’: Inside Amaechi’s Furious Slapdown Of Nyesom Wike!

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During an interview on Channels Television’s ‘Politics Today’, former minister Rotimi Amaechi dismissed recent comments made by FCT Minister Nyesom Wike regarding his selection as a running mate, stating that he does not respond to subordinates and noting that Wike never employed him.....KINDLY READ THE FULL STORY HERE▶

Additional context regarding the political exchange includes:

  • Wike’s Remarks: During a media briefing, Wike alleged that Amaechi’s selection was financially motivated rather than strategic, questioning his electoral viability and political influence post-2011.

  • Amaechi’s Response: Maintaining that he is currently focused on mourning, Amaechi indicated that he intends to respond more forcefully once his campaign activities officially begin.

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THE ULTIMATE BETRAYAL: Why Obasanjo’s Greatest Mistake Was Bringing Bode George Into PDP!

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During an interview on TVC News, former Lagos State Peoples Democratic Party (PDP) chairman Deji Doherty disputed claims that Chief Olabode George is a founding father of the party, asserting instead that George was introduced into the party’s leadership by former President Olusegun Obasanjo around 1999.....KINDLY READ THE FULL STORY HERE▶

  • Criticism of Leadership: Doherty argued that Obasanjo’s decision to entrust the management of the Lagos State PDP chapter to George was a mistake and that the affairs of the state branch were poorly handled.

  • Internal Party Crises: Displaying reconciliation documents during the broadcast, he noted that past efforts by respected party elders to resolve internal party disputes have failed to secure long-term peace.

  • Call for Youth Empowerment: Doherty emphasized that the ongoing leadership struggles should pave the way for a younger generation to take charge of the nation’s political future, regardless of party affiliation.

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SHOCKWAVE IN FOREX MARKET: See How Much A Dollar Costs Today, August 5!

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  • Parallel (Black) Market Rates: According to Bureau De Change (BDC) sources in Lagos for Tuesday, August 4, 2026, the parallel market traded the US Dollar at a buying rate of ₦1,410 and a selling rate of ₦1,425.....KINDLY READ THE FULL STORY HERE▶

    • Official CBN Rates: Central Bank of Nigeria figures recorded rates ranging from a low of ₦1,361 to a high of ₦1,364.

    Key Advisory Notes

    • Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.

    • Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.

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