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Over 30 Companies Licensed, Yet No Electricity Generated – NLC President Ajaero

Over 30 Companies Licensed, Yet No Electricity Generated - NLC President Ajaero

Joe Ajaero, the President of the Nigeria Labour Congress (NLC), expressed deep concern over the ongoing crisis in Nigeria’s power sector.

During the 21st Trust Dialogue, focusing on “Tinubu’s Economic Reforms: Gainers and Losers,” held at the NAF Conference Centre in Abuja, Ajaero highlighted a troubling situation. He recounted how, in 2005, over 30 companies were granted licenses for power plants, but unfortunately, there have been no positive outcomes from these ventures.

Ajaero didn’t shy away from criticizing the initial three policies introduced by the Tinubu administration. According to him, these policies have brought more hardships to the Nigerian people, adding to the challenges faced in the power sector.

He said, “President Tinubu wants to build on President Jonathan’s privatization policy. When Buhari came in, he did nothing about it… In 2005, over 30 companies got licenses to build power plants, but up till now, none of them has generated a watt.

“They said that they sold it and they would go to borrow money from banks, That does not pay. Nigeria that went to borrow money from banks would buy the power sector tomorrow. And what they told us was that what they needed were foreign investment and technical ability.

“We have heard that proxies are the owners of Nigeria’s power sector. As of today, nobody can tell us who are the owners of the power sector. The Tinubu government should look at this holistically to have a conscious plan to move Nigerians forward. I agree that Nigeria was down at the time he came in, but the first or three policies have inflicted more pains on Nigerians and those injuries are painful coupled with the cash crunch.”

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