Gom Mirian
The Nigerian Labour Congress (NLC) has queried the Federal Government’s rationale for the proposed plan to restructure the Transmission Company of Nigeria (TCN).
The Minister of Power, Mr Adebayo Adelabu, had stated that the restructuring aims to prepare the TCN for eventual takeover by new investors.
This announcement has sparked concerns among the masses and workers, who have already experienced the adverse effects of similar unbundling exercises in the past.
NLC president, Comrade Joe Ajaero, in a statement issued on Wednesday, highlighted the significant impact it would make on the power sector, while raising concern over the timing of the exercise when Nigerians are grappling with serious socioeconomic challenges.
He stated, “As we write, the government has paid about N2.8 trillion in subsidy for a sector it handed over to the private sector. A sector it sold at about N400 billion, yet it has spent multiples of that in taxpayers’ funds as payouts to those who bought the privatised entities.
“Privatisation will only exacerbate the existing crisis within the DISCOs and GENCOs, further impacting the quality of service provided by the power sector to Nigerians.”
NLC noted that despite prior warnings, Nigerians have already endured a 500 per cent tariff increase with no significant improvement in power service.
“The sector has remained stagnant, with minimal investment from the new owners of GENCOs and DISCOs. The current state of the power sector is a result of past mistakes, and it is disheartening that Nigeria seems to be repeating these errors once again,” the NLC stated.
