Nigeria Labour Congress Condemns Power Sector Privatization
Analysis based on 19 articles · First reported Feb 15, 2026 · Last updated Feb 17, 2026
The ongoing crisis in Nigeria's power sector, marked by frequent grid collapses and calls for re-nationalization, creates significant uncertainty for investors in the Electric power industry. The alleged N2-3 trillion bailout to Generation companies (GENCOs) by the Nigeria===Politics of Nigeria, if confirmed, could strain public finances and impact the Nigeria===Nigerian naira, while also raising concerns about governance and transparency.
The Nigeria Labour Congress (NLC), led by President Joe Ajaero, has issued a 'final warning' to the Nigerian authorities over the persistent collapse of the national electricity grid and the perceived failure of power sector privatization. The NLC argues that a decade after the unbundling of the Power Holding Company of Nigeria (PHCN), electricity generation remains stagnant, leading to 'darkness, exploitation, and economic pain' for citizens. Ajaero condemned the band classification system for electricity tariffs as a 'capitalist tool' and a 'backdoor tariff hike,' insisting that Nigerians are paying for darkness. The NLC also questioned the Nigeria===Politics of Nigeria's alleged plan to pay between N2 trillion and N3 trillion to Generation companies (GENCOs) as subsidies, describing it as a 'clandestine move to settle the boys' ahead of the 2027 elections. The NLC demands a comprehensive review of the sector, a reversal of the privatization model, and a return of the power sector to state control, calling for a National Stakeholders' Summit to draft a 'People's Power Roadmap' that prioritizes affordable and stable electricity for all.
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