Labour oppose FG’s bailout plans for DISCOs, express sadness on state of power sector despite N11trn injected so far

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The leadership of Nigeria Labour Congress (NLC) on Tuesday formally expressed opposition against move by Federal Government to give fresh bail out for the metering of electricity consumers.

Ayuba Wabba, NLC President who conveyed the Congress’ stance during the inauguration of the newly elected Executive of Labour Correspondent Association of Nigeria (LACAN) in Abuja, noted that total sum of N660 billion has so far been injected by the President Muhammadu Buhari’s administration without commensurate result in terms of power generation.

“One issue that is affecting our country today is the issue of accountability and transparency because all other issues can either directly or indirectly be linked to the issue of goof governance at all levels, be it at the Local Government level, the State Government is even worst and that is the bane of our challenges.

“For instance, in the power sector, I was really amazed yesterday (Monday), when I was going through some of the issues we need to campaign on and I realized that the present government has so far committed more than N660 billion in form form of intervention to a sector that is already comatose without corresponding reukt and attendant rate.

“They’re also proposing to give s bail out to the DISCOs. Its obvious that we are going the wrong direction, it has been made clear that it’s not about the resources. If in the pas 16 years we have so far committed more than N11 trillion to the power sector reforms and yet day-in day-out,what we have is renewal challenges of lack of power.

The NLC President also frowned at the disconnection of stteetlights across Abuja metropolis despite the payment of N500 million outstanding cleared by the Federal Capital Territory Administration (FCTA).

In the bid to address the challenges headlong, Wabba who noted that such reforms and privatization have failed in some countries of the world, urged President Buhari to review the entire reform in order to channel a new direction.

He maintained that Nigeria cannot achieve its plans “to drive our industries, drive the process of industrial is action even the issue of diversification,” the NLC chieftain stressed.

Ayuba specifically frowned against government’s drawing from the tax payers’ fund to bail out already privatized entities.

He maintained that if the new owners of the DISCOs lack the capacity to manage the privatised assets, “then it is high time for government to review the process.

“Because up till now, we have not been able to attain 10,000MW, we sre still celebrating between 5,000 to 6,500MW while South Africa is looking beyond 40,000MW,” he lamented.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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