RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

NLC Demands Reversal of New Tariff Hike for Band A Customers

Stephen Akudike by Stephen Akudike
July 5, 2024
in Business, Economy
Reading Time: 2 mins read
A A
0
National Protest: NLC To Shut Down Nation Over High Cost of Living Crises
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The Nigeria Labour Congress (NLC) has strongly opposed the recent increase in electricity tariffs for Band A customers from N206.80 to N209.5 per kilowatt-hour. The NLC has called for an immediate reversal of the new rates, accusing the Federal Government of both insensitivity and insincerity.

NLC President Joe Ajaero expressed his concerns in a statement on Thursday, describing the tariff hike as an act of impunity and arrogance. He warned that the increased costs would force more companies out of business and exacerbate difficulties for consumers.

AlsoRead

IMF Warns Rising Stablecoin Use Could Weaken Naira Demand and Monetary Policy

Nigeria’s Inflation Climbs to 15.93% in May as Price Pressures Persist

 Banks Generate N224.69 Billion from E-Banking and ATM Charges in Q1 2026

The new tariff, announced by electricity distribution companies (DisCos) on Wednesday, received approval from the Nigerian Electricity Regulatory Commission (NERC). The DisCos cited rising operational costs due to inflation and exchange rate fluctuations as reasons for the increase.

Ajaero recalled that during a recent national strike, the Federal Government had promised to address the previous hike in Band A tariffs from 68/KWh. He questioned why the next step was yet another increase rather than a reduction.

“This increment follows unresolved issues surrounding the insane 250 percent tariff hike, which led to a national shutdown, including the closure of 300 businesses as reported by the Manufacturers Association of Nigeria,” Ajaero stated.

The NLC President criticized the government’s broken promises, noting that organized labor had paused its protests only after receiving firm assurances from various quarters, including the National Assembly, that the issue would be quietly resolved.

“Instead of a reversal, we are seeing another hike,” Ajaero lamented, arguing that this move further demonstrates the government’s insincerity and insensitivity.

Ajaero dismissed the DisCos’ justification for the increase, which included exchange rate fluctuations, interest rates, and the cost of gas. He emphasized that these excuses highlight the lack of serious efforts by the government and energy sector entities to find a lasting solution to Nigeria’s energy crisis.

“We demand an immediate reversal of this hike due to the further damage it will inflict on our economy. It is unjustifiable, unreasonable, and malevolent. The government and DisCos must stop harming the people and the economy,” Ajaero concluded.

Tags: NLC
Previous Post

Bitcoin Dips 3% as 100,565 Traders Face $262 Million in Losses

Next Post

British Pound Strengthens Against Naira and U.S. Dollar

Related News

IMF Warns Rising Stablecoin Use Could Weaken Naira Demand and Monetary Policy

by Bolarinwa Mathew
June 16, 2026
0

The International Monetary Fund (IMF) has raised concerns over the rapid adoption of U.S. dollar-denominated stablecoins in Nigeria, warning that...

Navigating Inflation Crossroads: Nigeria’s Economic Odyssey Amidst Global Trends

Nigeria’s Inflation Climbs to 15.93% in May as Price Pressures Persist

by Victoria Attah
June 16, 2026
0

Nigeria’s headline inflation rate rose for the second consecutive month, reaching 15.93% in May 2026, up from 15.69% recorded in...

Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

 Banks Generate N224.69 Billion from E-Banking and ATM Charges in Q1 2026

by Jide Omodele
June 15, 2026
0

Nigerian commercial banks earned a total of N224.69 billion from electronic banking services and ATM/card-related fees in the first quarter...

Nigeria’s MTN and Airtel Record N403.2 Billion Data Revenue In Q3, 2023

Nigerians Borrowed Record $3.18 Billion in Airtime Credit Last Year – Report

by Victoria Attah
June 15, 2026
0

Mobile subscribers across Nigeria and other parts of Africa took a total of $3.18 billion worth of airtime on credit...

Next Post
Naira appreciates to N740/$ in the parallel market.

British Pound Strengthens Against Naira and U.S. Dollar

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Dollar Index Loses Steam as Treasury Yields Drift Back to 4.8%

Naira Strengthens to N1,356 per Dollar in Official Market, Best Level Since April

June 16, 2026
World Bank Extends Nigeria’s Digital Identification Project Deadline Amid Missed Targets

Tin Can and Apapa Ports Rank Among World’s Top 20 Most Improved Container Ports

June 16, 2026

Popular Story

  • Liquidity Crunch: Banking Sector’s Borrowing from CBN Surges to N12 Trillion.

     Banks Generate N224.69 Billion from E-Banking and ATM Charges in Q1 2026

    0 shares
    Share 0 Tweet 0
  • Nigerians Borrowed Record $3.18 Billion in Airtime Credit Last Year – Report

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Inflation Climbs to 15.93% in May as Price Pressures Persist

    0 shares
    Share 0 Tweet 0
  • Elon Musk’s Wealth Crosses $1 Trillion Mark, Overtaking Nigeria’s Entire Economy

    0 shares
    Share 0 Tweet 0
  • 31 Nigerian States Grapple with N2.57 Trillion Domestic Debt Amid No Foreign Inflows

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>