FROM N500K TO N4M: ROTIMI AMAECHI SLAMS TINUBU OVER SKYROCKETING ELECTRICITY TARIFFS. (PHOTO).

From N500k to N4m: Rotimi Amaechi Slams Tinubu Over Skyrocketing Electricity Tariffs

Former Rivers State Governor Rotimi Amaechi has launched a scathing critique against the electricity tariff reforms enacted by President Bola Tinubu's administration, claiming the elimination of power subsidies has placed an unbearable financial burden on Nigerians.

Amaechi’s N4 Million Electricity Dilemma

Speaking during a series of ward visits across the Omuma Local Government Area in Rivers State, Amaechi shared his personal experience to illustrate the severity of the economic situation. The former minister revealed that his personal household electricity bill has skyrocketed by 700 percent, jumping from N500,000 to a staggering N4 million per month.

"My house electricity bill was N500,000; now I pay N4 million," Amaechi told local residents, using his own financial strain to mirror the struggles of ordinary citizens under the current economic regime.

Criticism of Subsidy Removal and Economic Hardship

Amaechi criticized the administration's policy execution, arguing that the abrupt removal of subsidies was done without adequate consideration for the immediate welfare of the public. According to the political leader, the policy has triggered a domino effect, driving up inflation, food prices, transportation costs, and exacerbating security challenges across the nation.

"He [Tinubu] just held the microphone and didn’t care. He just said 'remove subsidy.' Since he removed the subsidy, transportation has increased, and food prices have surged tomatoes, corn, everything," Amaechi lamented. He added that heightened economic hardship has also contributed to a rise in insecurity, making it difficult for farmers to access their lands.

The Promise of Policy Reversal

During his address, Amaechi pitched the economic vision of Atiku Abubakar, asserting that a leadership change would bring immediate relief to energy consumers. He claimed that under Atiku's proposed administration, electricity subsidies would be reinstated, effectively dismantling the controversial "Band A and Band B" tariff structure that currently categorizes consumers based on daily power supply hours.

"Atiku said if he comes, I will go back to N500,000. No more Band A and B because the government will subsidize it," Amaechi declared, promising that a return to subsidy regimes would stabilize commodity prices nationwide.

Government's Stance on Power Subsidies

Despite growing public outcry over rising living costs, the Federal Government has maintained its stance on reforming the energy sector. Official plans indicate a gradual transition rather than an immediate reversal. According to government representative Joseph Tegbe, the administration intends to systematically phase out all electricity subsidy payments in the power sector, with a target completion date set for 2027.