The Nigeria Labour Congress has rejected the planned privatization of the Transmission Company of Nigeria, as announced by the Federal Government.
NLC President, Joe Ajaero, while declaring the rejection, said the planned privatization portends great danger to the Power sector and holds great fear and trepidation for major stakeholders within the Power sector.
He urged all Nigerians to kick against it in the interest of future generations, warning that among others, it would worsen the socio-economic conditions of Nigerians.
He argued that “It imperils the ability of the state to control, regulate and guarantee the safety of the nation’s grid system at all times.”
The Federal Government on Tuesday mentioned the plans to restructure the Transmission Company of Nigeria into two entities.
Minister of Power, Adebayo Adelabu, made this known while speaking at the Federal Ministry of Power ministerial retreat held in Abuja on Tuesday.
The TCN, which coordinates the nation’s electricity transmission network, is one of 18 companies that were unbundled from the defunct Power Holding Company of Nigeria in April 2004. It was incorporated in November 2005 and issued a transmission licence a year later.
TCN’s licensed activities include electricity transmission, system operation and electricity trading. The company is currently fully owned and operated by the government.
