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Thursday, April 4, 2013

PHCN: Preferred bidders must pay fully before take-over –Nebo

 
By Obas Esiedesa/Abuja
Twenty-four hours after constituting transition committees for the 15 successor companies of the Power Holding Company of Nigeria (PHCN) in Abuja, Minister of Power, Chinedu Nebo on Thursday said the preferred bidders must pay remaining 75 per cent of their bid amounts before being allowed to take-over.
Speaking at a meeting with with officials of Manitoba Hydro and PHCN worker unions’ executives, Nebo said the clarification became necessary due to the huge budgetary requirement to settle all the workers.
The minister also said government has not concessioned the Transmission Company of Nigeria (TCN) to Manitoba Hydro International, adding that the Canadian firm has only been delegated to run nation’s transmission network for a stipulated period of between three and five years.
A statement by the Ministry’s spokesman, Timothy Oyedeji said the clarification is necessary to correct the impression among PHCN labour unions that Manitoba has already taken possession as concessioners of the TCN.
The Minister enjoined Manitoba management to respect the rights of Nigerian workers as entrenched in the enabling law, urging the workers to work with the firm so as to take the power sector to the next level.
According to Nebo, “in today’s world everything must be bench-marked within the dictate of international standard; hence we must provide the enabling environment at this stage of our transition for business to thrive.
 

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