NLC Rejects N6tn Power Bailout, Proposes Ministry Merger

The Nigerian Labour Congress (NLC), led by President Joe Ajaero, has publicly rejected the federal government's proposal for a N6 trillion bailout aimed at addressing the ongoing crisis in Nigeria's power sector. Ajaero stated that public funds should not be used to subsidize failing privatized entities, specifically referring to generation and distribution companies (gencos and discos).

He emphasized that the proposed bailout would only address the symptoms of the power sector's problems rather than the underlying issues. The NLC advocates for a radical structural intervention, proposing the merger of the Federal Ministries of Petroleum and Power into a single, unified Ministry of Energy.

This merger is seen as a crucial first step towards de-commodifying energy and establishing a coordinated approach to energy management in Nigeria. Ajaero highlighted the need for mobilizing public financing to invest in the transmission and distribution of energy, aiming to alleviate poverty among citizens.