By Chinedu Obike

Amidst the cries of ordinary Nigerians and concerns raised in some quarters over the recent increases in electricity tariff and pump price of Premium Motor Spirit, the Federal government says it has worked out measure mitigate the impact of the new developments on the people.

To that effect, President Muhammadu Buhari has directed his ministers and senior administration officials to promptly implement the Economic Sustainability Plan (ESP).

President Buhari

The Vice President, Prof Yemi Osibajo, who delivered a speech on behalf of President Buhari at the first- year Ministerial Performance Review Retreat holding in Abuja, said the government is sensitive to the plight of the masses and will not willfully inflict hardship on the people. 

“In this regard, the Central Bank of Nigeria has created credit facilities of up to N100b for the Healthcare and Manufacturing sectors”.

He said the facilities were designed to address the infrastructural gaps in the identified sectors but hinted on the possibility of further increases or reduction, as a direct fall out of deregulation and in response to changes in global oil prices.

While the Federal Government makes spirited attempts to justify the recent increases, civil society groups and many other organizations have condemned the timing of the hike, coming at a time when the masses are still reeling from the crippling effects of the COVID-19 pandemic.

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