Electricity hike will worsen misery for Nigerians – ICAN warns Tinubu

According to the Institution of Chartered Accountants of Nigeria, a spike in energy prices would make life much worse for Nigerians, especially Small and Medium Sized Enterprises.

ICAN’s president, Dr. Innocent Okwuosa, recently announced this in a statement.

Remember that the Nigerian Energy Regulatory Commission, NERC, said that eleven energy distribution firms had sent the government a letter asking for a review of the tariffs.

Any attempt to raise the price of energy, according to Innocent Okwuosa, will directly harm Nigerians and businesses.

He asked President Bola Ahmed Tinubu’s federal administration to hold off on any plans to increase energy rates because Nigerians are still coping with rising gasoline prices, difficulties with the foreign exchange market, and other economic problems.

The Senate and House of Assembly had urged NERC to put any proposals for increasing power rates on hold.