NLC Raises Alarm Over N20bn TCN Emergency Spending

The Nigeria Labour Congress (NLC), led by President Joe Ajaero, has expressed alarm regarding a proposed N20 billion emergency expenditure by the Transmission Company of Nigeria (TCN). The NLC claims this spending is intended for an electrical grid expansion project but is labeled as an emergency refurbishment scheme that could divert funds and strain the financial health of TCN.

A letter addressed to the Minister of Power, Adebayo Adelabu, warns that the proposed expenditures, which include N191 million for erosion control and N290.65 million for drainage work, are inconsistent with prudent financial management principles. Ajaero alleges that the procurement process is irregular, suggesting that officials within TCN are attempting to inflate contract prices and stockpile materials at rates significantly above market value.

The NLC has called for the suspension of ongoing emergency procurement activities within TCN pending a comprehensive forensic audit and has requested an investigation into alleged land sales behind TCN substations.