Bolaji Jimoh 
Ibrahim Tajudeen Shola, a prominent member of the All Progressives Congress (APC), has advised President Bola Ahmed Tinubu not to follow the International Monetary Fund’s (IMF) recommendation to end the electricity subsidy.
New Telegraph had earlier reported that the IMF in its report said, “IMF Executive Board Concludes Post Financing Assessment with Nigeria” with the significance of doing away with the subsidies in order to reroute funds to more focused and effective social welfare initiatives.
Speaking in a statement made available to newsmen, Shola warned President Tinubu that the action would worsen the misery of the impoverished masses and could cause major unrest in the nation in an open letter to the president.
“Temporary and targeted support to the most vulnerable in the form of social transfers is needed, given the ongoing cost-of-living crisis. Fuel and electricity subsidies are costly, do not reach those that most need government support, and should be phased out completely.
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“In a country where a significant portion of the population lives below the poverty line, any increase in utility costs will directly impact the ability of families to afford basic necessities.
“With stagnant wages and rising inflation, the prospect of higher electricity bills is simply untenable for millions of households.
Moreover, the timing of such a proposal couldn’t be worse.
“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,” the letter warned.
