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FG To Go Ahead With PHCN Assets Handover

Despite the threat of a nationwide strike by electricity workers come November the 1st, the federal government says it would go ahead with the physical hand over of the company’s assets to the new owners on that day.

The Permanent Secretary, Ministry Of Power, Mister Godknows Igali, announced this after a meeting with Vice President Namadi Sambo, on the power privatisation process.

He added that the federal government had made significant progress in the payment of the disengaged workers, saying 40,093 out of the 47,913 identified disengaged PHCN workers had been fully paid their entitlements which he put at 294.4 billion Naira.

It will be recalled that President Gooduck Jonathan had formally handed over the Power Holdings Company of Nigeria, PHCN, to private organisations that bought it, with a pledge that they would take over the companies without any liabilities.

The President who personally gave out the licenses and share certificates to the investors at the Aso Rock Villa stated that liabilities of the PHCN would be managed by Nigerian Electricity Liability Management Company, NELMCO.

AmarSim Associations Development Consultants

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