Privatisation has done more damage to public interest –TUC

    
President of Trade Union Congress, Bobboi Kaigama, said the Federal Government’s privatisation initiative brought more evil than good to public interest.

The claim was made as the Director General of the Bureau of Public Enterprise, Benjamin Dikki, said that FG’s industrial reform in the form of privatisation had led to the accumulation of over N3tr pension fund, in stable deposit that has helped banks to lend 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 of TUC, Simeon Amachree, at a two-day event organised by the BPE for Labour Writers Association of Nigeria in Ibadan, said that the policy (privatisation) inflicted more damage on the poor people through loss of employment, reduction in income, sharp increase in prices and reduced access to basic social services, making reference to the sale of Power Holding Corporation of Nigeria.

“For over a decade, Nigeria’s capitalist ruling elite have made efforts to sell 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 successor companies have reneged on the sad promises. Consumers are now made to pay higher rates than they previously did while electricity supply has worsened,” said Kaigama in a paper titled, ‘The Press and Labour in the Era of Privatisation’, delivered at the forum.

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

“Proponents of the policy see it as an instrument of economic reform that would engender efficient resource management for rapid economic growth. But there is possibility that the new private sector management will exploit consumers where there is monopoly or oligopoly power.”

However, BPE DG, who was represented at the forum by the Director of Media in the organisation, Joe Anichebe, said it was important for Nigeria to continue privatising critical sectors of the economy, hinting on plan to extend the reform to the transportation sector.

“The Transformation Agenda of President Goodluck Jonathan is anchored on reforms that provide an enabling environment for private investors to drive economic growth. Reforms in the transport sector will soon enter the implementation stage after the passage of roads, railways, inland water ways and the ports and harbour bills which are presently being considered by the Federal Executive Council. It will soon be sent to the National Assembly for enactment,” he said.