More
    HomeNewsNLC provides fresh solution to blackout, rejects FG’s planned N6tn bailout

    NLC provides fresh solution to blackout, rejects FG’s planned N6tn bailout

    Published on

    The Nigeria Labour Congress, NLC, has proposed the merger of the Ministries of Petroleum and Power into the Ministry of Energy as a viable solution to the country’s epileptic power supply.

    This comes as the workers’ union rejected the proposed N6 trillion bailout to electricity generation and distribution companies by the Nigerian government.

    NLC’s president, Joe Ajaero, made these positions known in a statement at the weekend amid the lingering crisis in the country’s power sector.

    According to him, public funds should not be used to subsidize failed private entities, referencing Gencos and Discos.

    He said that the proposed N6 trillion bailout to GenCos and Discos will only address the symptoms, not the real problem Nigeria’s power sector faces.

    Ajaero said the failed privatization of the power sector in Nigeria has proven that it is not the solution.

    “Therefore, we are proposing a radical structural intervention: the immediate merger of the Federal Ministry of Petroleum and the Federal Ministry of Power to create a single, unified Ministry of Energy.

    “By merging the ministries, we take the first step toward de-commodifying energy.

    “We move towards a system where the State, through a coordinated Ministry of Energy, can mobilize public finance for investment in generation, transmission, and distribution, just as it is done in nations that have lifted their citizens out of poverty,” he said.

    Latest articles

    Prof. Ali Ahmad Scales PDP Governorship Screening, Eyes Kwara Governorship

    Former Speaker of the Kwara State House of Assembly, Prof. Ali Ahmad, has successfully...

    Kogi poly withdraws 229 students over poor academic performance

      Olu Samuel   ‎The Academic Board of Kogi State Polytechnic has approved the first semester results...

    SEC warns public against illegal ponzi scheme promoted on social media

      By Onu Okorie   The Securities and Exchange Commission (SEC) has warned Nigerians against investing in...

    Plateau State Govt presents  draft of reformed laws  

      From Yakubu Wuyep, Jos     Plateau State Government has began the reform and modernization of  State’s...

    More like this

    Prof. Ali Ahmad Scales PDP Governorship Screening, Eyes Kwara Governorship

    Former Speaker of the Kwara State House of Assembly, Prof. Ali Ahmad, has successfully...

    Kogi poly withdraws 229 students over poor academic performance

      Olu Samuel   ‎The Academic Board of Kogi State Polytechnic has approved the first semester results...

    SEC warns public against illegal ponzi scheme promoted on social media

      By Onu Okorie   The Securities and Exchange Commission (SEC) has warned Nigerians against investing in...