Yet again, the move by the Federal Government to divest majority holdings in state power utilities to curb daily blackouts has taken some ironic twists and turns recently with reports that President Goodluck Jonathan is reviewing the $23-million deal with Manitoba Hydro International, a Canadian firm, for the Transmission Company of Nigeria (TCN).
Impliedly, the swift move by the Presidency is to douse the growing tension over the fate of its power sector reform and privatization programme as speculations were rife last week that the government had terminated TCN's three-year management contract with Manitoba.
Officials of the Ministry of Power in Abuja had confirmed that they are yet to receive notification on the cancellation of the contract but said what they knew was that the president had ordered a review of the contract.
On the other hand, the Canadian firm had reportedly said it has not received any notice from government on the contract's termination and insisted that it has not been shown the exit; however, it further submitted that a review was being done to ensure that whatever abnormalities that needed to be rectified in the contact are effected.
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