As the Federal Government formally hands over the
successor companies of the Power Holding Company of
Nigeria to private investors on Friday (today) amid threats
from the disengaged workers, The PUNCH has exclusively
learnt that the sum of N1.278bn will be spent on “special
security arrangements” for the protection of the privatised power assets nationwide.

The arrangement is to beef up security around the PHCN
successor companies nationwide so as to ensure a smooth handover to the core investors.

Our correspondent learnt that the sum, which will be
shared by the Nigerian Army, the Nigeria Security and Civil Defence Corps and the Directorate of State Security
Service, had already been approved by the National
Council on Privatisation chaired by Vice-President Namadi
Sambo at its October meeting.

The money will be drawn from the special funds set aside
from the proceeds of the sale of the firms.

According to a memo dated October 14, 2013, raised by
the Minister of Power, Prof. Chinedu Nebo, and exclusively
obtained by our correspondent, the Office of the National
Security Adviser recently presided over a meeting of the
Nigerian Army, SSS, NSCDC and the Ministry of Power on the need to guard the national power infrastructure from October 20 to December 3, 2013, a period in which the new owners would have settled down to run the companies.

“The meeting became imperative as a result of intelligence report viz-a-viz probable subversive activities and reactionary outburst that might be unleashed by some disgruntled staff members of the moribund PHCN and successor companies (GencoS and DiscoS), thus the need to monitor and guard the national power infrastructure,” the minister wrote.

He added that the three security agencies at the meeting
presented the financial requirements for the nationwide
surveillance and protection for the period as N1.278bn.

According to the breakdown, SSS will get N115m; the
NSCDC will get N239.9m, while the Nigerian Army will get
N186.6m and an additional N737.1m as outstanding debt.

In explaining the outstanding debt, Nebo wrote, “Prior to
this latest planned security exercise, the Nigerian Army
was engaged to protect the power infrastructure due to the prolonged agitation as well as activities of the labour
groups in the power sector and the vandalism of some
power facilities by hoodlums.

“The ministry is indebted to the Nigerian Army for the
services and the inability to fully pay the Army was due to
paucity of funds and non-budgetary allocation. The
Nigerian Army is requesting for payment of the services
rendered.”

For the two-month period, the memo showed that the
NSCDC demanded N31m for the protection of the Lagos
area; N33.5m for Kaduna; N20.9m for Bauchi; N40m for
Owerri; N24.6m for Abeokuta; N27.7m for Benin; N19.5m
for Makurdi; and N42.3m for Minna.The sum includes operation allowance, cost of buying petrol and diesel, medical allowance and communication.

The breakdown of the NA budget for the period showed
that N136.8m would be spent on operation allowance of
1,249 troops at the rate of N1,500 per day for 73 days;
N23.8m for petrol for 84 Hilux vehicles; N12.6m for diesel
for 84 trucks; N9.2m for medical allowance at the rate of
N1,500 per day per troop; and N4.3m for mobile phones’
recharge cards at the rate of N700 per day per troop.
Troops are expected to be deployed from 1, 2, 3, 81 and
82 Divisions of the Nigerian Army as well as the Army
Headquarters Garrison.

The 1 Division will get N45.8m; 2 Division, N43m; 3
Division, N22.5m; 81 Division, N30.6m; 82 Division,
N34.2m, and the Army Headquarters Garrison, N10.6m.

www.punchng.com/business/business-economy/fg-to-protect-privatised-power-assets-with-n1-28bn/

Probably another concoted story by Punch and its imaginary correspondents.

i_laugh: Probably another concoted story by Punch and its imaginary correspondents.

I don't think it is a concoted story..but even if it is this action is very necessary because some people don't want GEJ to suceed with this power reforms.Just last week some people were arrested while trying to pull down a transmission tower with Hack saw

awodman:
I don't think it is a concoted story..but even if it is this action is very necessary because some people don't want GEJ to suceed with this power reforms.Just last week some people were arrested while trying to pull down a transmission tower with Hack saw

just like NEPA or PHCN guys have gone to strike.

Dem nor dey respect Billion again sef!