Electricity tariff increase, 7.5 percent VAT on petrol unsettles Nigerians

The first 22 days of President Bola Ahmed Tinubu’s government have, in the words of many Nigerians, been “bitter-sweet.”

His snap judgments, which have been praised by many in various ways as “bold,” “decisive,” and “correct,” are not without the accompanying ramifications that are bleak and trying for the typical Nigerian.

For instance, Premium Motor Spirit (PMS) costs have increased dramatically since fuel subsidies were eliminated. A Value Added Tax (VAT) on PMS is allegedly coming soon, according to recent rumors. Nigerians are more uneasy due to an electricity pricing increase anticipated for July 1.

The change happens as Nigerians struggle with the hard economic realities brought on by the elimination of fuel subsidies.

The sentiment of the majority of Nigerians was summed up by two well-known social media influencers, Kelvin Odanz, and Daniel Regha.

“Fuel subsidies have been eliminated, as have educational subsidies. Diesel now has a VAT, which will raise its price and have an impact on market prices for other commodities. The electricity subsidy is just about to end. Within a month, all of these. too rapidly. a lot. People in Nigeria are in pain. “We are being choked,” tweeted Kelvin Odanz on Monday.

Daniel Regha stated unequivocally that the people were not well-served by the policies of the current administration.

“It’s hardly newsworthy that Tinubu met Bill Gates and Aliko Dangote in the presidential mansion. What has this government done that benefits the general public, even if the visit is generating headlines? Including cutting off fuel subsidies and allegedly trying to raise power rates. It’s never about us,” he said on Monday in a tweet.

Nigerians are particularly concerned about the rumored levy on PMS because they fear greater economic difficulties that might increase inflation.