The Nigeria Labour Congress (NLC) has opposed the federal government’s plan to grant a N3 trillion bailout to privately owned electricity generation companies (GENCOs), arguing that the move is economically unsound and undermines public interest.
In a statement signed by its president, Joe Ajaero, the labour union insisted that the state should reclaim its role as the primary driver of Nigeria’s power sector.
The NLC condemned the bailout, highlighting that power sector assets were previously sold for about N400 billion, yet the government is now being asked to inject N3 trillion into the same companies that have not increased electricity generation beyond pre-privatisation levels.
NLC described the privatisation of the power sector as a “grand deception” and a “well-orchestrated robbery” of the Nigerian people.
It rejected APGC’s claims that the labour movement lacked understanding of the sector, labeling it a self-serving narrative.
NLC questioned why GENCOs, which acquired assets for N400 billion, are now demanding N6 trillion, with the government willing to pay only N3 trillion.
It tressed that electricity should be treated as a social service, not a commodity to be auctioned to the highest bidder.
The NLC noted that the bailout represents opaque enrichment of GENCO operators and a continuation of the failures of the privatisation model, warning that the Nigerian public cannot continue to pay for inadequate electricity supply.
The labour union’s stance signals growing tension between organised labour and the federal government over strategies to address Nigeria’s chronic power supply challenges.
