If I’m President Of Nigeria, Nigerians Won’t Pay The Estimated Electricity Bills.
Bola Ahmed Tinubu, a presidential contender for the All Progressive Congress (APC), asserts that if elected, Nigerians won’t have to cope with the challenge of shifting foreign currency (FX) prices.
Tinubu spoke on Thursday at a luncheon for business entrepreneurs named “business forward” in Lagos.
Two foreign currency (FX) markets exist in Nigeria today: the central bank’s official rate and the parallel market, sometimes referred to as the black market.
The Central Bank of Nigeria (CBN) has always stated that the parallel sector comprises less than 1% of forex transactions and should never be utilized to establish the exchange rate, even if it is more accessible to dealers and companies that use FX.
Speaking at the ceremony, Tinubu said that if elected, Nigerians would no longer be required to pay for power on an estimated basis.
In an electrical payment system known as estimated billing, the distribution companies (DisCos) handle the billing without the use of any meters (postpaid or prepaid). Customers are often overcharged for the electricity they use as a consequence.
“You must have power, by all means. And anticipated billing will no longer be charged to you. There won’t be various exchange rates when I’m elected president. He advised writing it down.
“The purpose of my talk today is to uplift people so that tomorrow’s promise might become a reality. You have our word that we will make Nigeria prosperous.
Further, the presidential candidate said that Nigeria will no longer continue to subsidize gasoline use in its neighboring nations and pledged to make bold choices that would revive the economy, including eliminating fuel subsidies. He promised to transform obstacles into chances for growth.
How is it possible that we are financing the gasoline needs of Cameroon, Niger, and the Benin Republic? No matter how long you continue to object, we will end the subsidies. We are capable of doing it. We have adequate education, Tinubu stated.
The previous governor of Lagos said that his administration would provide a favorable environment for the private sector to flourish.
He said that his government will not meddle in activities that the private sector excels in.
As for economic policy, Tinubu said, “Our guiding concept will be to create the correct policy framework so that business may prosper.”
“However, I want to do more than just support already-existing firms. We must make room for new industries and commercial ventures to flourish. This economy must expand in order to support over 200 million people with a reasonable level of life.
