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Who Is Afraid Of Phcn Privatisation? - Politics - Nairaland

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Privatisation Of PHCN A Fraud, Electricity Workers Tell Buhari / Atiku To Buhari: Reverse PHCN Privatisation / PHCN PRIVATISATION WILL FAVOUR&BENEFIT NIGERIA...do You Believe ? (2) (3) (4)

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Who Is Afraid Of Phcn Privatisation? by dave07(m): 2:08pm On Oct 30, 2010
For long and even in recent times, many have labeeled the staff labor Unions in PHCN as saboteurs and enemies of stable power supply in the country, but what do we make out of the report below courtesy of Guardian Newspaper
Govt seeks N135b to pay off PHCN workers
THE Presidential Task Force on Power yesterday informed the National Assembly that the sum of $900 million (N135 billion) was being packaged as severance pay for some 50,000 workers of the Power Holding Company of Nigeria (PHCN) and other related firms in the power sector that would be affected by the privatisation programme in that sector.
During a meeting with Speaker, House of Representatives, Dimeji Bankole, at the National Assembly, Presidential Adviser on Power Sector, and chairman of the task force, Prof. Bart Nnaji, disclosed that the PHCN, as currently constituted, would be replaced by over 18 firms next year when the privatisation programme would start off.
[size=16pt]But Bankole, in a swift response, urged the task force to accommodate the interests of generator and diesel dealers in the power sector reforms to ensure that their businesses, which he described as “multi-billion dollars per annum,” were not lost.[/size] Nnaji listed the challenges faced by the PHCN to include huge debts, saying: “There is a high operating cost in the company, gulping over N8 billion yearly, in which workers’ salaries and pension take 80 per cent of it.”
Lamented that 70 per cent of the cost of running the sector was incurred at the distribution business level, Nnaji stressed that “the whole idea for the future of the sector is to cut a good deal for the workers for a more efficient power output for the country. When the workers would have been laid off, we would enter into an agreement with the new owners of the companies to absorb them. There is no way the new owners would work without trained and experienced workers. So, most of the workers would be fully re-engaged after entering into a new contract with the new owners.”
On the severance deal in the works for the PHCN workers, the presidential adviser declared: “We are already working out a $900 million (N135 billion) severance package for them with the CBN for appropriation in the next budget.”
Nnaji also disclosed said that several foreign investors had already shown great interest in Nigerian power sector with a view to buying in to the proposed reforms.
http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=27389:govt-seeks-n135b-to-pay-off-phcn-workers&catid=1:national&Itemid=559

so the interest of generator/diesel should be pursued still, if we are to enjoy power supply?
Re: Who Is Afraid Of Phcn Privatisation? by atampakoeg(f): 2:10pm On Oct 30, 2010
its true na.

If not, all of you selling generators will come back here to blame government on loss of job.
Re: Who Is Afraid Of Phcn Privatisation? by dave07(m): 2:27pm On Oct 30, 2010
its true na.

If not, all of you selling generators will come back here to blame government on loss of job.

so they are also afraid of improvement in the power sector, having enjoyed the boom from the sector's decadence all this year at the expense of the masses.
then it must also be true that they contributed greatly to the inefficiency of nepa/phcn. if they are not 'settled' like Mr speaker hinted, will the power sector reform survive?

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