Power: FG Declines Plans To Privatise TCN

Power: FG Declines Plans To Privatise TCN

Power: FG Declines Plans To Privatise TCN

Power: FG Declines Plans To Privatise TCN

The federal government has reiterated its claim that it has no plans to sell or privatize the Transmission Company of Nigeria’s activities (TCN).

ALSO, READ 2023 Budget: President Mohammed Buhari Allocates N239B To The Power Sector

The power minister, Mr. Abubakar Aliyu, revealed this in a statement on Wednesday in Abuja.

He pointed out that a crucial link in the value chain of electricity—transmission—constantly requires considerable investment.


What He Said:

The minister stated that the TCN is at the heart of the FG’s plans to boost Nigeria’s power sector, noting that there are no plans to sell the company.

He added that the FG is working to make the TCN’s operations more efficient.

As part of the repositioning of TCN, job opportunities are being created, as with the recently concluded ramp up of employment, contrary to claims that there is a plan for mass disengagement of staff at the company.

ALSO, READ Central Bank of Nigeria Asks Court To Freeze 157 Accounts Of Companies In Power Sector

“The organization has also been carrying out sustained capacity building by training and retraining of staff across all cadre for efficiency and service delivery.

”Transmission is a vital segment of the electricity value chain that constantly needs significant investments,” he said.

Power: FG Declines Plans To Privatise TCN

He added that the FG maintains the transmission segment of the power value chain even when other segments have been privatized and that it was investing and supporting efforts to make TCN a world-class transmission service provider, focused on upgrading, stabilizing, and modernizing Nigeria’s power sector through the Presidential Power Initiative (PPI).

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