Over 30 companies got licences for power plant yet single watt not generated – Ajaero

Joe Ajaero, President of Nigeria Labour Congress (NLC), has lamented about the crisis in Nigeria’s power sector.

Speaking during the 21st Trust Dialogue themed “Tinubu’s Economic Reforms: Gainers and Losers”, held at NAF Conference Centre, Abuja, Ajaero narrated how more than 30 companies got licence for power plant in 2005 yet nothing fruitful came out of the venture.

Ajaero also criticised  the first three policies introduced by the Tinubu administration, saying they inflicted more pain on Nigerians.

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He said, “President Tinubu wants to build on President Jonathan’s privatization policy. When Buhari came in, he did nothing about it… In 2005, over 30 companies got licenses to build power plants, but up till now, none of them has generated a watt.

“They said that they sold it and they would go to borrow money from banks, That does not pay. Nigeria that went to borrow money from banks would buy the power sector tomorrow. And what they told us was that  what they needed were foreign investment and technical ability.

“We have heard that proxies are the owners of Nigeria’s power sector.  As of today, nobody can tell us who are the owners of the power sector. The Tinubu government should look at this holistically to have a conscious plan to move Nigerians forward. I agree that Nigeria was down at the time he came in, but the first or three policies have inflicted more pains on Nigerians and those injuries are painful coupled with the cash crunch.”