Labour Demands Reversal Of Power Sector Privatisation

The Nigeria Labour Congress (NLC) and the Association of Power Generation Companies (APGC) are set for a major confrontation over calls for a fresh federal government bailout of power generation companies (GenCos).

The organised labour had expressed deep concern over the worsening performance of generation and distribution companies (DisCos), thereby, demanding a reversal of the privatisation of the power sector.

President of the NLC, Comrade Joe Ajaero, accused the APGC of misleading Nigerians with what he termed “deceptive figures” despite what he described as persistent underperformance by both GenCos and DisCos.

Ajaero, who cited “payment for darkness” by Nigerians as evidence of the sector’s failure, said the privatisation of the power industry was, and remained, a grand deception of the Nigerian people.

“The APGC’s whining about ‘victimisation’ cannot mask the stench of failure that has enveloped the sector since they took over,” he stated.

He, however, questioned the rationale behind the reported bailout plan, noting that the entire power sector assets were sold for about N400 billion, yet GenCos are now demanding trillions of naira in support.

“APGC and others need to explain to Nigerians why they bought the entire power assets for around N400 billion, but GenCos alone are demanding N6 trillion, even when the Federal Government had earlier considered paying N3 trillion,” Ajaero said.

Describing the situation as “grotesque mathematics of plunder,” the labour leader argued that it was illogical for the government to inject trillions of naira into companies that, according to him, have failed to significantly improve generation capacity beyond pre-privatisation levels.

“We ask the Nigerian people: can a man sell his house for N400 billion and then turn around to pay the buyer N3 trillion because the buyer mismanaged the property? This is not economics; this is plunder,” he stated.

Ajaero further alleged an “incestuous relationship” between sellers and buyers of the power assets, claiming that the proposed bailout represents a continuation of what he described as a transfer of public wealth into private hands.

“Our attention has been drawn to a press release issued by the APGC on February 17, 2026, where it accused the NLC of lacking competence to understand the power sector. We reject their self-serving narrative and misleading characterisation of our patriotic demands,” he added.