Vast Emordi 


The Federal Government  was on Monday urged to soft pedal on the proposed  hike in electricity tariff as it's negative effects outweighs it's intended benefits.


"It  will affect businesses dangerously", says the Chief Executive Officer, CEO  of Vastovers Stemordz group - Mr. Vast Emordi, during an interactive session with journalists in Abuja. 


Emordi  argued that most businesses are already paying heavily for power coupled with the high cost of diesel and PMS for generators. "Business owners in Nigeria bear a huge burden on their shoulders, from the high tariff of petrol and the high cost of diesel, whigh tax and unhealthy competition. To consider an increase in  electricity tariff will amount to putting too much pressure on business owners and the economy"


He added that to raise the cost of electricity by forty percent would cripple businesses and force the few that would survive to transfer the cost on the poor masses while noting that the increase in the price of petrol occasioned by  the removal of subsidy is still bitting hard on staff and owners of companies. 


The entrepreneurs with over 100 staff in his employ said, electricity is core to most businesses and to attempt an increase in tariff will not only affect the cost of goods and services but also force company owners to downsize or shut down their businesses l