• On ‘Inside Sources,’ Says new tariff hike not working
By Emmanuel Babafemi
Renowned journalist Laolu Akande, in a compelling segment on “Inside Sources,” has passionately charged President Bola Tinubu to prioritise the implementation of a living wage for Nigerian workers amid escalating inflation, saying the electricity tariff hike not working.
His poignant call for action on his widely circulated programme on Channels TV, on Friday, underscored the pressing need for fair compensation and stable electricity provision amidst the economic challenges facing the nation.
During the “My Take” segment of his popular talk show, “Inside Sources with Laolu Akande,” entitled “Who Will Tell The President Part 2,” the former presidential aide emphasised the critical importance of addressing the unfulfilled promise of a living wage for Nigerian workers.
He stated, “Who will tell the president that the promise that he made of a living wage for Nigerian workers, is still pending? Emphasis is on living wage and this is especially so now that soaring inflation in our country has made the salaries of workers across all, almost valueless.”
He said, “There are critical sounds that invite the attention of the people but don’t get the focus of the government. So, we ask again today, who will tell the president? Who will tell the president that the promise that he made of a living wage for Nigerian workers, is still pending?”
Akande noted that the current minimum wage of N30,000, which was worth $88 in 2019, has now dwindled to a mere $23, severely eroding the purchasing power of workers.
“The emphasis is on living wage and this is especially so now that soaring inflation in our country has made the salaries of workers across all, almost valueless. Someone needs to hurriedly whisper into the ears of the president that the N30,000 minimum wage of 2019 amounted to $88 then, today, it is only $23,” Akande said.
He urged the president to take immediate action to ensure that Nigerian workers are fairly compensated, given the rising cost of living.
Furthermore, Akande highlighted the ongoing challenges in the power sector, questioning, “Who will tell the president that the current electricity tariff increase that was announced is not delivering on its promise?”
He challenged the minister’s threat of a power sector collapse without the tariff hikes, suggesting that the real issues lie in the “unaccountable inefficiency of some of the DISCOs and lack of real investment and poor technical capacity in the sector.”
He said, amid the unyielding increases in the tariff not offering value for people’s money, “Yet, our Minister, Bayo Adelabu, is threatening all of us that the power sector will collapse without all those tariff increases. Is it not obvious that what will destroy the power sector is the unaccountable inefficiency of some of the DISCOs and lack of real investment and poor technical capacity in the sector?”
“What about the sabotage in the TCN and those real dangers to the sector? Who will tell the president that a former power minister in this country came up with the idea of an energy fund to cure the problem of financial liquidity in the power sector, but that minister couldn’t even get the attention of the former president to look at the idea?
“Why won’t the incumbent minister follow up? Who will tell the president that the communication from the villa to the nation is still a struggle? Actually, the advisers are working very hard, but their coordination is very poor,” Akande said.
He also touched on the persistent petrol scarcity, noting that while the NNPC has assured of sufficient stock, the NMDPRA, the regulatory body, has been dozing off on the wheels by refusing to pay independent petrol marketers the outstanding N200 billion in bridging claims since February, as directed by the minister. He warned that this inaction could lead to a worsening of the fuel scarcity crisis.
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“Who will tell the president that the NMDPRA should promptly do its job and pay the marketers the outstanding bridging claims? We need someone to tell the president urgently so that this fuel scarcity can end quickly. Who will tell the president that the current electricity tariff increase that was announced is not delivering on its promise?” Akande queried.
Throughout his segment, Akande emphasised the need for the president to insist on transparency, accountability, and the strict implementation of measures to discourage impunity, abuse of power, and corruption.
He commended the president’s initiatives, such as the student loan scheme and the Consumers Credit Scheme, but urged him to continue pushing for economic growth, job creation, and social welfare, as these efforts would not only improve the living standards of the people but also showcase Nigeria as a positive example in Africa and the world.
He said, “We must note some of the worthy steps that we have seen already from the president, including the student loan scheme, whose board is now chaired by Mr. Jim Ovia and that’s a good move, including the Consumers Credit Scheme which has been announced that has a huge potential to catalyse Nigeria’s massive consuming power.
“We commend all of these, we also commend the president’s drive to stimulate foreign direct investment but who will also tell the president and keep reminding him that as the leader of our nation, he must insist on transparency, he must insist on accountability, he must insist on the strict implementation of modalities that discourage impunity, that discourage abuse of power, and that discourage corruption.”
Akande’s impassioned plea for the president to address these critical concerns underscored the need for bold leadership and decisive action to alleviate the hardships faced by the Nigerian people, stating, “He must insist on curtailing excess on an ongoing basis, and he must continue to desperately push initiatives like he did for the student loan initiative.”
He encouraged the president to take up “Initiatives that ensure economic growth, job creation and ensure socio-welfare. Those are the things he must continue to push very hard.
“This is because driving the economy, not only improves the living standard of the people, but also of the citizens and the nation, while also additionally, showcasing Nigeria as a good example, in Africa, and the world. And that is why we want those who have the president. ears to tell him about some of these critical concerns and there you have “My Take” for the week,” Akande said.
