Nigerians should be ready for power, petrol price hikes after 2019 elections – Experts

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hike in power and petrol prices
hike in power and petrol prices

Nigerians should be ready for hike in power and petrol prices immediately after the 2019 general elections, economists and investors in the power and petroleum sectors have warned.

In a chat with New Telegraph in Lagos, they insisted that the expedient hike in prices of electric power and Premium Motor Spirit (PMS); two utility products in Nigeria, will wait till immediately after the general elections.

The CEO of Financial Derivatives, Bismarck Rewane, a frontline economist, said nothing would happen on both power tariff and petrol price until after the election as no political party would want to lose the election by doing anything beforehand.

Similarly, Managing Director, Cowry Asset Management, Johnson Chukwu and investors in the 11 distribution companies, said that no party or individual that emerges winner in the election will sustain the energy tariff and oil subsidy burden.