Banks in the country are unwilling to lend funds to the preferred bidders of the 11 privatized Electricity Distribution Companies due to uncertainty associated with the settlement of entitlements of former Power Holding Company of Nigeria (PHCN) workers.
The owners of the DISCOs, who made their plight known to the minister of power in Abuja yesterday, urged the federal government to complete the Condition Precedent (CP) of the privatization process, and extend the Long Stop Date to September 21.
Chairman of the Distribution Companies (DISCO) Roundtable, Dr. Ransome Owan, at a meeting with the Minister of Power, Prof. Chinedu Nebo, said, “We pray the minister to conclude all labour issues and meet all CPs before August 21st.”
Chairman of the Distribution Companies (DISCO) Roundtable, Dr. Ransome Owan, at a meeting with the Minister of Power, Prof. Chinedu Nebo, said, “We pray the minister to conclude all labour issues and meet all CPs before August 21st.”
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