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NLC cautions Nigerian govt on planned restructuring of TCN

The Nigeria Labour Congress (NLC) on Wednesday cautioned the Federal Government on the planned restructuring of the Transmission Company of Nigeria (TCN).

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The Minister of Power, Adebayo Adelabu, had during the week announced the planned restructuring of the TCN.

He said the government plans to unbundle the TCN into two entities – the Independent System Operator and the Transmission Service Provider – to align with the Electricity Act 2023 and the demands in the power sector.

TCN was incorporated in November 2005 as one of the 18 companies that emerged from the unbundling of the defunct Power Holding Company (PHCN) and issued a transmission licence to transmit electricity, engage in system operation, and electricity trading.

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A fully-owned Federal Government company, it coordinates the nation’s electricity transmission network.

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However, in a statement issued in Abuja, the NLC President, Joe Ajaero, warned that the plan would worsen the crisis in the nation’s power sector.

He stressed that the plan was not different from the previous restructuring of the power sector which was yet to yield any result.

The NLC president urged President Bola Tinubu to convene a genuine national stakeholders’ forum to critically review the privatisation exercise in the sector.

He said: “It is important that we learn from the mistakes of the past so that its errors are not repeated and the same consequences befall our nation again.”

Ajaero noted that the plan portends great danger to the power sector and would reduce the ability of the state to control, regulate, and guarantee the safety of the country’s grid system at all times.

The post NLC cautions Nigerian govt on planned restructuring of TCN appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.

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