No plan to privatize TCN - FG
According to statements made by the federal government, selling the Transmission Company of Nigeria (TCN) is not in the works.
The alleged plan is untrue, according to a statement issued on Wednesday, October 12 by the Ministry of Power.
The declaration said:
"These reports are false and are simply attempts to sow fear in the power industry, which is working to ensure that Nigerians have access to reliable power supply."
"Neither the Federal Government of Nigeria nor anyone within the FGN has declared an intention to sell or privatize the Transmission Company of Nigeria.
"The Federal Government of Nigeria's efforts to revitalize the power sector are spearheaded by The Transmission Company of Nigeria (TCN). In order to make TCN more effective and transparent, the Ministry of Power is continuing to review, evaluate, and upgrade it in collaboration with important stakeholders.
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 organization has also been carrying out sustained capacity building by training and retraining of staff across all cadres for efficiency and service delivery.
“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)”
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