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Privatisation Has Damaged Public Enterprises — TUC

The President, Trade Union Congress, Mr. Boboi Kaigama
The President, Trade Union Congress, Mr. Boboi Kaigama

The President, Trade Union Congress, Mr. Bobboi Kaigama, has said the Federal Government’s privatisation of public enterprises has brought more evil than good.

He made the claim as the Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, said that the exercise had led to the accumulation of over N3tn pension funds in stable deposits, which had helped the banks to give long-term loans to customers, adding that the reform would be extended to other sectors soon.

Kaigama, who was represented by the Deputy Secretary General, TUC, Mr. Simeon Amachree, at a two-day public forum organised by the BPE in Ibadan, said privatisation had inflicted more pains on the poor people through loss of employment, reduction in income, sharp increase in prices and reduced access to basic social services, with particular reference to the sale of the Power Holding Company of Nigeria’s successor companies.

He said, “For over a decade, Nigeria’s capitalist ruling elite have made efforts to sell the PHCN to the so-called private sector. But the electricity workers campaigned against it until promises were made by the government to fulfil all requisite conditions.

“Unfortunately, the government and the successor companies have reneged on the said promises. Consumers are now made to pay higher rates than they previously did, while electricity supply has worsened.”

According to the TUC boss, the proposed sale of the refineries by the Federal Government will fail to solve the problem of petroleum products supply in the country, urging the National Assembly to pass the Petroleum Industry Bill and probe the sale of public property that might have been done in questionable circumstances.

Source: Punch

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