Finally, the Federal Government, on Friday, officially
concluded the privatisation of Power Holding Company of Nigeria after it handed
company over the 10 successor companies, retaining 40 per cent of the old
workforce in the process.The handling over ceremony was performed in Lagos,
Ibadan, Benin, Enugu and Abuja respectively.
The retained workers are given temporary appointments
by the Federal Government to run the newly privatised companies for six months
.It was gathered that two different letters had been dispatch to the power
companies across the country for onward circulation to workers as from Monday.
While all the 47,000 workers of the defunct PHCN will
receive their disengagement letters, the source said the temporary appointment
letters would only go to those that would be retained for operations of the
company.
Meanwhile, the Federal Government handed over three power
assets in Lagos on Friday.
The assets include Egbin Power Plc, Ikeja Electricity
Distribution Company and Eko Electricity Distribution Company.
The Vice-president, Namadi Sambo, represented by the Minister
of Industry, Trade and Investment, Dr. Olusegun Aganga, said the participation
of the private sector in the power sector would improve power supply.
According to him, the final handover marked the concluding
stage of the transaction for four generation companies and 10 distribution
companies in the country.
He said, “The challenges facing the electricity sector in
Nigeria are enormous, but we are equally convinced that the opportunities in
the sector are enormous.”
Speaking at the official handover ceremony of the Abuja
Electricity Distribution Company to its new owner, Kann Utility Consortium
Nigeria Limited, the Minister of Power, Prof. Chinedu Nebo, stated that the
government had paid out a whooping N360 billion to workers of the defunct PHCN.
He explained that there might be some teething issues
such as an increase in electricity tariff as soon as the new power owners
commence operations in earnest, but stressed that the problems would abate with
time.
The Federal Government, on Friday, formerly handed over the
Benin Electricity Distribution Company to core the investors, Vigeo Power
Limited, as part government’s power sector privatization programme.
Vigeo Power Ltd with 60 per cent interest, is core investor
in the BEDC.
Performing the official handing over ceremony, Vice
President Namadi Sambo, who is also chairman, Bureau of Public Enterprise,
described the occasion as a milestone, that would not have been possible
without the commitment of President Goodluck Jonathan.
Sambo, who was represented by the Permanent Secretary,
Ministry of Finance, Anastasia Nwaobia, reiterated the commitment of the
Federal Government to ensure uninterrupted power supply.
He said, “The challenges facing the electricity sector in
Nigeria are enormous, but we are equally convinced that the opportunities in
the sector are enormous.”
The Ibadan distribution company dispenses power to
Oyo, Ondo, Ogun, Osun and parts of Kwara, Kogi and Niger states.
Enugu Electricity Distribution Company was handed over to
Interstate Electricity Limited in Enugu on Friday with the mandate to check
epileptic power supply in the state.
Sambo, who gave the charge during the handing over of
the company, said privatization was a necessary tool for power regulation.
Source: Punch
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