Tuesday, October 15, 2013



The Director General of the Bureau of Public Enterprise (BPE), Mr. Benjamin Dikki revealed to the House of Representatives committee on Privatisation and Commercialisation that the full payments of entitlements has begun for the Power Holdings Company of Nigeria (PHCN) workers.

He also added that some 6,700 of the staff had issues with verification which is being sorted out while 2,500 casual workers are expected to be regularized by the PHCN management before payment of their entitlement.
A PHCN Power Transformer
A PHCN installation. Img: Olumide Samuel
He added that the bureau has received payment for 14 power generation and distribution companies that were handed over to private investors about two weeks ago. The government is almost through in its step to privatize the power sector.
It must be noted that the government is only privatizing the generation and distribution companies while the transmission company which is the link between them is still under the government’s watch. The government claims this will allow it to still have a reasonable control over how the private investors run the power companies.
Chairperson of the House committee, Khadijat Bukar Abba-Ibrahim, commended the BPE on its success in the handing over of 14 generation and distribution companies to core investors.
She also appealed to the bureau and the National Council on Privatisation (NCP) to at all times “Operate in strict compliance with the Public Enterprises Privatisation and Commercialisation Act of 1999.
In a related news, DG of the BPE, Benjamin Dikki, at an investors’ forum in New York claim that the Federal Government will make over $3 billion from the sale of 17 successor companies.
He claimed that about $2.3bn has already been realized from the sale of 60% equity in 14 of the successor companies, whose transactions have been concluded.

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