The Nigeria Labour Congress (NLC) has expressed concerns regarding the proposed plans by the federal government to restructure the Transmission Company of Nigeria (TCN). According to Mr. Adebayo Adelabu, the Minister of Power, the NLC believes that there may be hidden intentions behind this move by the government.
In a statement released on Wednesday, Comrade Joe Ajaero, the president of the NLC, highlighted that the main motive behind the proposed restructuring seems to be preparing the TCN for eventual takeover by the cronies and lackeys of the ruling elite. The word “unbundling” used in this context brings fear and anxiety to the masses and workers, as it has previously led to negative consequences in other sectors such as the petroleum industry.
Ajaero emphasized that the NLC held the belief that President Bola Tinubu’s government should have organized a genuine national stakeholders’ forum to critically review the privatization exercise in the power sector. The government itself acknowledges that this exercise has failed to achieve its major objectives. Instead of embarking on another exercise that may worsen the crisis in the power sector, the NLC believes that a thorough evaluation of the privatization process is necessary.
Ajaero further noted that the power sector has not witnessed significant improvements despite a 500 percent tariff increase, and there has been a lack of investment by the purchasers of the generation and distribution companies. The NLC sees the current situation as the result of past mistakes that are being repeated.
Additionally, it is worth mentioning that the government has reportedly spent approximately N2.8 trillion in subsidies for a sector it privatized for about N400 billion. These payouts to the private entities have been funded by taxpayers, indicating a significant financial burden.
The NLC’s concerns are rooted in the desire to protect the interests of the Nigerian people, workers, and consumers, and they urge the government to consider alternatives that prioritize the well-being of all stakeholders in the power sector.
