To ensure a hitch-free handing over of power installations to buyers, the Federal Government said it has paid over 40,093 workers of the former Power Holding Company of Nigeria, PHCN.
The Minister who said the government had achieved 90 per cent success in the payment of the workers’ severance packages, added, 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 as critical 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.
The Minister said that 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 who commended the contributions of donor agencies in the on-going privatization of the sector, said that the exercise would have experienced more hiccups, but for the expertise, foresight and doggedness of these partners.