Author: Gloria Nwafor

The Nigeria Labour Congress (NLC) is strongly opposing the recent tariff hike imposed by electricity Distribution Companies (DisCOs), warning that it will have severe negative effects on the economy. NLC President, Joe Ajaero, expressed outrage at the increase from N206.80 to N209.5 for band ‘A’ customers, stating that it demonstrates a level of arrogance that will lead to further business closures and consumer hardships. The NLC had previously protested a 250% tariff hike which resulted in the shutdown of 300 businesses, but was assured by authorities that the matter would be addressed. Despite promises of reversal, the new tariffs were…

• National wage review and fiscal stimulus may worsen inflation crisis• Official data underestimates actual cost of living crisis• Stakeholders express concerns over potential social unrest The proposed Inflation Reduction and Price Stability Plan, alongside the impending national wage review, have raised uncertainty about the country’s inflation trajectory. The expected fiscal stimulus includes import duty waivers on essential food items and incentives for local production. However, fears loom about potential wage increases exacerbating inflation and triggering another price spiral. Recent data from the National Bureau of Statistics suggests high headline inflation, but independent surveys reveal a more alarming reality. Prices…