PHCN privatisation, greatest achievement of govt – Nebo

Minister of Power, Prof. Chinedu Nebo
| credits: File copy

The Minister of Power, Prof. Chinedu Nebo, at a media chat in Abuja, on Thursday, described the privatisation of the power sector as one of the greatest achievements that could be recorded by any government.

According to him, the privatisation process was followed through diligently despite the many challenges and bottlenecks that characterised it.

Nebo said, “The handover of the power firms to their new owners is one of the greatest achievements that can be recorded by any government. And this feat has been successfully completed by this administration.

“It will interest you to know that the issue of labour alone is enough to frustrate any government if care is not taken. But despite all the complaints, challenges and bottlenecks, this government successfully transited from a public-owned power sector to a private-driven industry.”

He stated that the privatisation of the power sector put “significant pressure” on the Federal Government.

“A lot of interests were generated, teething challenges were experienced; but with all the pressure, we have ensured that we remain committed,” Nebo said.

On the alleged mass sacking of the workers of the defunct Power Holding Company of Nigeria by the Bureau of Public Enterprises, the minister explained that the fired employees were not retrenched by the BPE but by the new investors in the electricity firms.

He said, “The new power investors sacked many of the workers because they are suspicious of government officials. This is one thing with private businesses; they are always jittery with public workers.

“But some of them are beginning to learn their lessons and are reviewing what they did. Some of the investors have started calling back some of the sacked employees because they have realised that the experiences of these workers are beneficial.”