Citing funding constraints to continue
shouldering its operational expenses, the
Federal Government may have concluded plans
to privatise the Transmission Company of
Nigeria (TCN).
Minister for Power, Works and Housing, Mr.
Babatunde Raji Fashola, stated this at the
ongoing West Africa Power Industry
Convention (WAPIC), which opened in Lagos
yesterday.
Fashola, who was represented by the Acting
Chairman and CEO, Nigerian Electricity
Regulatory Commission (NERC), Mr. Anthony
Akah, added that government would involve
the private sector to drive the transmission
arm of the power sector value chain.
‘‘Our action is being driven by non-availability
of funds to drive development in the power
sector. The government can no longer handle
funding of the power sector alone. That is why
we are now looking towards involving private
sector in transmission because this will help in
raising fund for the sector,” he said.
Fashola equally alluded to the current lopsided
structure of the power mix, lamenting that
about 80 per cent of power being generated is
from gas, stressing that the trend would be
reversed through the use of other cleaner
energy in order to bridge the gap in electricity
supply in the country.
Meanwhile, hopes of steady electricity supply
brightened further yesterday as the TCN,
yesterday, took delivery of 218 stranded
electricity equipment, which had been lying idle
at the Apapa ports for over eight years.
Receiving the consignment at the Duncan
Terminal in Apapa, Fashola said the equipment
would go a long way in addressing the
challenge of epileptic power supply. He said
that 77 containers were cleared from Duncan
Terminal, while 114 containers will be cleared
from other terminals. He said the move was
part of the Federal Government’s effort at
ensuring that all stranded electricity equipment
at the ports get accelerated clearance and
waiver to cushion the effect of erratic power
supply in the country.
He explained that the management of TCN will
ensure that the consignments are moved
immediately to sites for commencement of
pending works.
‘
‘The President, as part of efforts to give
Nigerians stable power supply, has approved
the disbursement of fund for the clearing of
stranded containers containing power
equipment and materials at various terminals
so as to improve power delivery to every
Nigerian.
‘‘I equally want to appreciate the effort of the
Vice President, Prof. Yemi Osinbajo, for his
support towards the actualisation of the
clearing of the stranded containers.
“A lot of hard work has gone into negotiation
for the release of these power equipment due
to the accrued demurrage as a result of the
suspension of the issuance of import duty
exemption certificate for some period in 2014,’’
he said.
The Minister said it is expected that the
shipping companies and terminal operators
will be supportive of this administration and
cooperate with the Ministry of Power in its
effort to move other power equipment at their
various terminals to project sites.
In his remarks, Mr. Godfrey Shitguru, CEO,
Duncan Terminal, assured total commitment to
the Federal Government’s cause in ensuring
that all stranded power equipment are
delivered to site




http://tapread.net/2016/11/24/fg-to-privatise-tcn-takesdelivery-of-218-strandedpower-equipment/

We are really living in a shitty country with lopsided policies. Our leaders are such idiots. In a sane situation, does demurrage suppose to affect power transmission equipments that is meant for the common good? Maybe I don't know better, someone else should enlighten us further.

matrixme:
We are really living in a shitty country with lopsided policies. Our leaders are such idiots. In a sane situation, does demurrage suppose to affect power transmission equipments that is meant for the common good? Maybe I don't know better, someone else should enlighten us further.

Not really sir. This is a good step in the right direction. In fact it is long over due. You see, the major problem with power supply is not generation but rather it is with the transmission most of the time as the Transmission infrastructure has been the same since the 1980s all through the 90's now you can imagine if the peak capacity of a transmission line is just 5000MW due to losses the highest obtainable may not be up to 3000MW.So Govt has not really invested in the TCN. Privatizing it will mean better investment and better capacity for a 24hr supply. The TCN was a bottle neck a dark horse in the power supply chain I must tell you.

You've said it all. We are being ruled by scums, urchins, idiots, imbeciles, morons, maggots all balled into one. Nigerian politicians in times past and as presently constituted are evil, subhuman, malevolent, anarchistic, antichrists, and the proper devil incarnates. Only God can save the zoo called Nigeria....

matrixme:
We are really living in a shitty country with lopsided policies. Our leaders are such idiots. In a sane situation, does demurrage suppose to affect power transmission equipments that is meant for the common good? Maybe I don't know better, someone else should enlighten us further.

Fake or Genuine news.
Any privatization that doesn't return 49% shares to the owner is a sham and mere creation of paddy - paddy billionaires.

The public owns the company originally thus such privatization should. have 49% ownership sold through NSE public offer.