NLC laments worsening power supply, inflation

The Nigeria Labour Congress has lamented the poor power supply in the country, saying this is not good for business and national development.

The labour union said 12 years after the sector was privatised by the administration of former President Goodluck Jonathan, the power supply has not improved.

The President of the NLC, Joe Ajaero, who said this during the 13th quadrennial national delegates conference of the National Union of Textile Garment and Tailoring Workers of Nigeria in Abuja on Tuesday, lamented that while tariff is on the increase, power supply had nosedived.

He recommended a policy change to drive the power sector.

Ajaero said, “I was one of the persons who said privatisation was not the solution to the power crisis in the country. Twelve years later, we are worse off. While tariffs are on the increase, power supply is nosediving. We need some intervention in the sector because no sector can survive in this present situation.

“Each time we hear of billions in the power sector, it is not making any impact. Even after privatisation, the power sector has been subsidised with over N2trn. We need policies in the power sector because that is the driver of industrialisation and development. This is very important.

“In Nigeria today, there are many power plants that do not serve their purpose. This has affected us. That is why we need a new policy in the power sector that will assist everybody.”

The NLC president also lamented the rising inflation in the country.

Ajaero said with the current inflation of 31. 70 per cent, even if the national minimum wage was increased to N1m, it would not be enough for workers.

He added, “No matter the minimum wage we pay in this country today, if the issue of the devaluation of the currency continues, even if you pay N1m, it will lose its value the following day. If we don’t check inflation, if you don’t check the exchange rate, if you pay workers N1m today, we won’t be able to buy much.

“We need to look at all variables in the determination of the new minimum wage. No matter what you pay workers today, the value will go down in the next year.”

The NLC president also lamented the poor state of the textile industry, noting that no nation could survive without developing the textile industry.

Ajaero said the fortune of the textile industry had not improved despite pronouncements by the Federal Government to revive the sector.