Power Holding Company of Nigeria (PHCN)
- To pay management fee to Manitoba this week
By Chineme Okafor in Abuja
Following a final resolution of the lingering labour issues that had slowed down the smooth privatisation of Power Holding Company of Nigeria (PHCN) last Tuesday, the Federal Government has said it will begin an immediate process of winding up the operations of PHCN as provided by Electric Power Sector Reform (EPSR) Act.
The government hinted at the weekend that a committee to fast track the final process of winding down the company would be inaugurated this week and expected to work with another committee it had earlier setup a year ago for the same purpose in line with the EPSRA 2005 and President Goodluck Jonathan’s roadmap for the reform of the electricity sector.
Minister of State for Power, Hajia Zainab Kuchi, confirmed that procedures to commence the winding down has begun, explaining at a press briefing to mark the end of the fifth national power summit in Lagos that the process was a consensus by all stakeholders in the power sector.
Kuchi noted that the new committee would hasten the process to ensure that it is completed as soon as possible.
Kuchi noted that the new committee would hasten the process to ensure that it is completed as soon as possible.
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