Politics
Breaking News: Labor Turns Down Proposed TCN Sale
Breaking News: Labor Turns Down Proposed TCN Sale....KINDLY READ THE FULL STORY HERE▶
The Organized Labour has vehemently opposed the Federal Government’s proposed privatization of the Transmission Company of Nigeria (TCN), expressing concerns about its potential negative impact on the socio-economic conditions of Nigerians. Joe Ajaero, the President of the Nigeria Labour Congress (NLC), cautioned that the privatization plan poses a significant threat to the Power sector, instilling fear among major stakeholders.
In a statement titled “Intended Power Sector Policies: Same Mistake, Defender Consequences Betraying Hopes of Nigerians,” the NLC urged all Nigerians to unite against the privatization initiative. The labor union argued that the move jeopardizes the state’s ability to control, regulate, and ensure the safety of the nation’s grid system.
The NLC highlighted the historical failures of previous privatization exercises in the sector, emphasizing that the proposed restructuring mirrors past unsuccessful attempts. The labor union expressed skepticism about the government’s motives, suggesting that the plan may be a precursor to handing over TCN to allies of the ruling elite.
Warning against the consequences of such a move, the NLC drew parallels with the negative outcomes of previous privatization efforts in the petroleum and power sectors. The statement raised concerns about potential blackmail, weakening of power transmission infrastructure, and a replication of the crises witnessed in Distribution Companies (DISCOs) and Generation Companies (GENCOs).
Recalling past protests against a similar trajectory in the power sector, the NLC emphasized the lack of significant improvement in services despite a 500 percent tariff increase. The labor union criticized the government’s expenditure of substantial sums on subsidies and payouts to privatized entities, ultimately leading to the sector’s control falling into the hands of banks.
The NLC called for a comprehensive review of the failed privatization exercise, advocating for a national stakeholders’ forum instead of embarking on a potentially crisis-inducing restructuring of TCN. The labor union warned of dire consequences for the nation’s power sector and the overall economy if a conscious power policy, free from undue neoliberal influence, is not implemented promptly.
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Source: Bushradiogist
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