Nigerian Labour Congress Opposes Government’s TCN Restructuring Plan

NLC’s Rejection

The Nigerian Labour Congress (NLC), through its President, Joe Ajaero, vehemently opposed the Federal Government’s blueprint to restructure the Transmission Company of Nigeria (TCN).

Ajaero highlighted the potential negative ramifications of the government’s plan, particularly regarding the sale of 40% shares in electricity distribution companies in the capital market by 2024.

Implications on Power Sector

Ajaero cautioned that this restructuring initiative could have dire consequences for the power sector. He criticized the plan, alleging that it could effectively relinquish control of the company to the elite class while rendering the underprivileged segments of society powerless.

Perceived Dangers and Historical Context

Expressing grave concerns, Ajaero emphasized the threats posed by this move, citing dangers to the nation’s grid system and the state’s ability to regulate and ensure its safety.

He likened the restructuring rhetoric to past failed privatization efforts that resulted in increased suffering for Nigerians without tangible positive outcomes.

Alleged Motives and Opposition Stance

The NLC President accused the government of aiming to prepare TCN for an eventual takeover by allies of the ruling elite. He expressed disappointment in President Bola Tinubu, stating that the administration’s policy direction mirrored the errors of previous governments.

Advocating for Dialogue and Review

Ajaero advocated for a comprehensive national stakeholders’ forum to critically review the failed privatization exercise in the power sector.

He criticized the government for potentially plunging the sector into further crises through ill-conceived restructuring efforts.

Conclusion

The NLC stands firm against the government’s proposed TCN restructuring, urging a more inclusive and transparent approach to address the challenges faced in the power sector without exacerbating existing issues.

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