New Owners Of Power Firms Must Get All Approvals Before Friday – FG Orders


SAMBO-300x213The federal government has issued a marching order to all government agencies that has any outstanding approvals or documents connected to the power transaction to ensure that they were signed and delivered before this Friday, October 11, 2013.

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The Chairman of the National Council on Privatization (NCP), Vice President Mohammed Namadi Sambo, issued this directive in his office during a meeting with the new owners of the Power Holding Company of Nigeria (PHCN) successor companies.

Sambo, who commended the winners of the PHCN Successor Companies for their interest and confidence in the Nigerian economy, assured that all was set for the physical handing over of the companies this month.

The vice president also expressed immense appreciation to the Bureau of Public Enterprises (BPE) and other organs of government who contributed to the success of the power sector reform and privatisation, noting that the transaction had been adjudged one of the most transparent in recent history.

The BPE Director General Mr Benjamin Dikki, had  said earlier that outstanding payment of labour liabilities to the PHCN workers would  be concluded next week.

Dikki also expressed the bureau’s appreciation for the level of political support it received from the highest level in the implementation of the transaction. He also appreciated the support it received from relevant ministries and agencies in the course of the transaction.

He added that the job of reforming the economy was not yet done, urging similar support in the ongoing reforms in the development finance institutions (DFIs), transport, and housing and media sectors.

In her remarks, the Minister of Water Resources, Mrs. Sarah Ochekpe, urged the new investors not to relent in their efforts to drive darkness out of Nigeria, adding that the whole country was looking up to them to usher in a new horizon in Nigeria.



Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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