Electricity workers fault N3tn bailout to power companies

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The Organised Labour has faulted the over N3tn bailout granted to generation and distribution companies in the power sector by Federal Government after they have been privatised.

The National Union of Electricity Employees especially criticised the government for injecting funds into companies owned by individuals without a commensurate increase in electricity generation and supply in the last 10 years.

The Chairman of the committee, Aliyu Magaji, had in his opening address, noted that the public hearing was to address some concerns expressed by the Nigerian Governors’ Forum. “There has not been meaningful improvement or contribution by the current investors nine years after privatisation, and 17 years after the Electric Power Sector Reform Act, 2005, was signed into law,” he stated.

He stated, “As we speak now, almost N3tn has been pumped into the power sector, which wasn’t there when it was owned by the government, what is the logic to say the government has no business in business, and the government now has to pump and fund the business of another man. We need to sit down and see what is working for us.”

 

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