The Nigeria Labour Congress (NLC) has vehemently rejected the proposed restructuring of the Transmission Company of Nigeria (TCN) by the federal government, expressing concerns about hidden motives and potential dangers for the power sector.
NLC President Joe Ajaero raised alarm over what he perceives as a move with intentions “clear to every discerning Nigerian.” He drew parallels to the failed privatization exercise, stating that the proposed restructuring mirrors the same problematic unbundling that brought misery to the Nigerian people and the economy.
Ajaero accused the government of attempting to hand over TCN to “cronies and lackeys of the ruling elite,” cautioning that similar to past administrations, the privatization route could lead to detrimental consequences. He urged for a national stakeholders’ forum to review the failed privatization exercise instead of repeating potentially disastrous moves.
The NLC president painted a bleak picture of the consequences, warning that privatization could expose the nation to blackmail, weaken the sector’s ability to transmit and distribute power, and replicate the crises seen in DISCOs and GENCOs.
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He emphasized that the government should learn from past warnings, citing increased tariffs without service improvement and stagnant progress in the power sector.
Ajaero highlighted the economic implications, noting that subsidies totaling N2.8 trillion have been paid for a sector now in the hands of banks due to investors’ loan payment struggles. He urged the government to design a conscious power policy free from neoliberal economic influences for genuine progress.
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the NLC called for a reconsideration of the TCN restructuring plans and advocated for a genuine stakeholder dialogue to find a sustainable solution for Nigeria’s power sector.
