The Nigeria Labour Congress (NLC) and the Association of Power Generation Companies (APGC) have differed over proposals for a new federal government bailout for power generation companies (GenCos).
The organized labor has voiced serious concerns regarding the declining performance of both generation and distribution companies (DisCos), leading to demands for the reversal of the power sector’s privatization.
NLC President, Joe Ajaero, accused the APGC of misleading the public with what he referred to as “misleading figures,” despite ongoing poor performance from both GenCos and DisCos.
Ajaero pointed to the phenomenon of “payment for darkness” as evidence of the sector’s failure, asserting that the privatization of the power industry was a significant deception against the Nigerian populace.
“The APGC’s complaints about ‘victimization’ cannot conceal the failure that has plagued the sector since they took control,” he remarked.
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He also questioned the reasoning behind the proposed bailout, highlighting that the entire power sector was sold for approximately N400 billion, yet GenCos are now seeking trillions of naira in assistance.
“APGC and others must clarify to Nigerians why they purchased the entire power assets for about N400 billion, but GenCos alone are asking for N6 trillion, even when the Federal Government had previously considered a N3 trillion payment,” Ajaero stated.
Describing the situation as “grotesque mathematics of plunder,” the labor leader argued that it is unreasonable for the government to inject trillions of naira into companies that, in his view, have failed to significantly enhance generation capacity beyond pre-privatization levels.
“We ask the Nigerian people: can someone sell their house for N400 billion and then turn around to pay the buyer N3 trillion because the buyer mismanaged the property? This is not economics; this is plunder,” he asserted.
Ajaero further alleged a “collusive relationship” between the sellers and buyers of the power assets, claiming that the proposed bailout is a continuation of transferring public wealth into private hands.
“Our attention has been drawn to a press release issued by the APGC on February 17, 2026, where they accused the NLC of lacking the competence to understand the power sector. We reject their self-serving narrative and misleading characterization of our patriotic demands,” he added.
