Following the recent privatisation of major electricity utilities of the defunct Power Holding Company of Nigeria (PHCN), Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr Sam Amadi, has said ownership of PHCN structural assets has changed hands.
Addressing newsmen recently in Abuja, Amadi noted that major assets of PHCN such as its corporate headquarters in Abuja have been handed over to the Nigerian Electricity Liability Management Company (NELMCO) to help offset the huge debts in the power sector.
Recall that NELMCO had earlier issued a notice dismissing an alleged planned sales of the PHCN headquarters and other assets immediately after the physical handover of the core generation and distribution companies to private investors.
Amadi said, “the PHCN assets are now owned by NELMCO. It is the one who inherited all liabilities and assets of PHCN. The corporate headquarters is one of the non-core assets of government and NELMCO is in charge.”
Recall that NELMCO had earlier issued a notice dismissing an alleged planned sales of the PHCN headquarters and other assets immediately after the physical handover of the core generation and distribution companies to private investors.
Amadi said, “the PHCN assets are now owned by NELMCO. It is the one who inherited all liabilities and assets of PHCN. The corporate headquarters is one of the non-core assets of government and NELMCO is in charge.”
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