NLC: N3tn Power Bailout Economically Unwise
ABUJA — The Nigeria Labour Congress (NLC) has officially declared war on the Federal Government’s proposed ₦3 trillion bailout for privately-owned Electricity Generation Companies (GenCos). In a scorching statement issued on Friday, February 20, 2026, NLC President Joe Ajaero characterized the planned intervention as an “economically unwise” heist designed to “settle the boys” ahead of the 2027 electoral cycle. This latest friction follows a decade of stagnant power generation, which remains stubbornly tethered to 4,000–5,000 megawatts—levels virtually unchanged since the 2013 privatization. Consequently, Labour has demanded an immediate halt to the bailout, calling for the state to reclaim its role as the primary driver of the nation’s electricity infrastructure.
The NLC’s indictment highlights a “grotesque mathematical contradiction” in the sector’s financial history. Ajaero pointed out that while the entire national power architecture was sold for approximately ₦400 billion in 2013, the same private operators are now allegedly demanding over ₦6 trillion in “unpaid invoices.” Furthermore, the Association of Power Generation Companies (APGC) recently accused the NLC of lacking the technical competence to grasp the sector’s liquidity crisis. While it is true that the GenCos claim to be the most financially exposed segment of the value chain, Labour maintains that the privatization model was a “well-orchestrated robbery” of the Nigerian people. Indeed, Ajaero insisted that electricity must remain a social service rather than a “commodity to be auctioned to the highest bidder.”
The APGC, led by CEO Dr. Joy Ogaji, has urged the public to show “pity, not castigation” toward generation companies. In a related development, the association offered to subject its financial books to an independent forensic audit to prove the reality of its ₦6 trillion debt burden. Granted, the Federal Government has already moved to share the ₦3.6 trillion power subsidy burden among the three tiers of government under the 2026 budget. However, the NLC argues that this decentralization is merely a “magic wand” that fails to address the underlying structural rot. Significantly, the national grid has already recorded its second total collapse of 2026, further eroding public confidence in the current management framework.
Notably, the NLC has proposed a “People’s Power Roadmap,” advocating for public investment in generation and transmission rather than bailouts for private speculators. Above all, Ajaero warned that Nigerian workers will not continue to “pay for darkness” while the public treasury is allegedly looted through opaque subsidies. Subsequently, the Labour movement has called for a National Stakeholders’ Summit to draft a worker-centered framework for the sector. Although the Presidential Power Sector Debt Reduction Programme (PPSDRP) aims to clear legacy arrears, the NLC views these payments as a “clandestine move” to transfer public wealth into private pockets.
Finally, the NLC stands ready to mobilize the masses to resist any further exploitation in the name of “electricity reform.” Therefore, the government must choose between sustaining a “failed privatization” or exploring the state-led model proposed by organized labor. As a result of this friction, the 2026 power budget faces its toughest test yet from a citizenry nearing its breaking point. The quest for a “New Nigeria” with steady light remains trapped between the claims of private investors and the demands of the working class.