Federal Government on Thursday announced plans to start physical handover of the successor companies of the Power Holding Company of Nigeria (PHCN) to the new owners in 30 days.
Permanent Secretary of the Ministry of Power, Godknows Igali, emerging from a meeting with Vice-President Namadi Sambo, told State House correspondents that the physical takeover of the firms by the successful bidders will be preceded by a symbolic presentation of the ownership documents to them.
But the handover announcement is coming on the same day the House of Representatives expressed reservation over the method adopted by the executive arm of government in privatising the PHCN.
The National Council on Privatisation (NCP) had last week confirmed the eventual sale of the 10 distribution companies (Discos) and four out of five generation companies (Gencos) carved out the soon-to-be defunct PHCN.
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