FG to Nigerians: We Have No Plan to Privatize Transmission Company of Nigeria
- Recent media reports that claimed there is a plan to privatize the Transmission Company of Nigeria has been dismissed
- The federal ministry of power says the rumours are false, adding that the company TCN is a centerpiece in the government’s efforts to rejuvenate the sector
- The ministry assured Nigerians that it will be keep working with key stakeholders to make the TCN more efficient and transparent
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FCT, Abuja - The ministry of power has stated that there are no plans to sell the Transmission Company of Nigeria (TCN) even as it urged members of the public to dismiss rumours of plans to privatize the TCN.
Some media reports had claimed that there is a plan to privatize TCN in the coming months.
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A report from the office of the minister of power seen by Legit.ng stated that:
“These reports are untrue and are only mere misinformation aimed at spreading panic in the power sector, which is making progress towards ensuring that Nigerians enjoy uninterrupted power supply.
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“The Federal Government of Nigeria has no intent to sell or privatize the Transmission Company of Nigeria, and no one in the FGN has made a statement of an intent to sell TCN.
“The TCN is a centerpiece in the Federal Government of Nigeria’s efforts to rejuvenate the power sector.
“Therefore, the Ministry of Power working with key stakeholders is continuing to evaluate, assesses and upgrade TCN to make it more efficient and transparent.”
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 a mass disengagement of staff at TCN.
The statement further noted that the TCN has also been carrying out sustained capacity building by training and retraining of staff across all cadre for efficiency and service delivery.
It added:
“Transmission is a vital segment of the electricity value chain that constantly needs significant investment. As is the best practice across the world, the government of Nigeria maintains the transmission segment of the power value chain even when other segments have been privatized.
“Currently, the federal government is investing and supporting efforts to make TCN a world-class transmission service provider.
“The federal government under the leadership of President Muhammadu Buhari focuses on upgrading, stabilizing and modernizing Nigeria’s power industry through various interventions, including the Nigeria-Siemens partnership under the Presidential Power Initiative (PPI).”
Solar power plants: FG, developers meet to discuss on-grid IPPs
Meanwhile, the federal government earlier this year met with solar power developers to discuss the framework for the resolution of the impasse on the 1-Gigawatt Solar Power Plants ($1 billion in new investment).
The impasse had prevented developers from moving to the site since signing Power Purchase Agreements in 2016.
The latest discussions were held at a meeting hosted by the minister of power, Engr. Abubakar D. Aliyu and chaired by the minister of finance, budget and national planning, Zainab S. Ahmed.
FG to construct its first nuclear power plant, signs agreement with Russia, Pakistan
In another development, the federal government has stated that bids for the building of a 4000 megawatts nuclear power plant is now open.
This was revealed by Dr. Yau Idris, Director General of the Nigerian Nuclear Regulatory Authority, during the ongoing Nigerian International Energy Summit in Abuja.
If the bids are successful and construction is finished, Idris claims that the factory would be the largest power plant in the country.
Source: Legit.ng
