FG Pays Off 40,093 PHCN Workers

Power Sector, Privatization, FG, PHCN,
In order to facilitate a smooth handing over of power installations to buyers, the Federal Government has paid over 40,093 workers of the former Power Holding Company of Nigeria, PHCN.

Minister of Power, Professor Chinedo Nebo, disclosed this while receiving the Donor Coordinating Group, UNIDO, led by Dr Patrick Kormawa, in Abuja on Monday.

He added that, an additional 5,000 cases are needed to be re-validated.

The Minister stated that the intention of Government is to ensure that there will be no further delay in the proposed formal physical handover of power assets to the private owners.

Prof. Nebo described the advice and support provided to all the arms of the power sector; regulatory, policy, executive, and technical, among others, to ensure a seamless privatization exercise as Important.

He said Government cannot fold its arm and watch unpatriotic individuals derail the process in transition, but will rather do all within its power to ensure that the objective of privatization is sustained.

Prof. Nebo praised the contributions of donor agencies in the on-going privatization of the sector, saying that the exercise would have experienced more hiccups, but the proficiency, foresight and tenacity of these partners made transition this smooth.

He further added that the Federal Government has achieved 90 percent success in the payment of the workers’ severance packages.