The federal government once again assured that it has no plans to sell or privatize the operations of Transmission Company of Nigeria (TCN).
This is exposed in a statement by the minister of power, Mr. Abubakar Aliyu, in Abuja on Wednesday.
He noted that transmission is an important part of the power value chain that often requires significant investment.
What he said:
The minister said TCN is at the heart of FG’s plans to develop Nigeria’s power sector, adding that there are no plans to sell the company.
He added that the FG is working to make TCN operations more efficient.
“As part of TCN’s repositioning, job opportunities have been created, such as the recently concluded job ramp up, contrary to claims that there are plans for mass layoffs of the company’s staff.
“The organization also conducts continuous capacity building through training and retraining of personnel in all cadres for efficiency and service delivery.
“Transmission is an important part of the electricity value chain that often requires significant investment,” he said.
He added that FG maintains the transmission part of the power value chain even as other parts are privatized, and that it invests and supports efforts to make TCN a world-class transmission service provider, which focused on upgrading, stabilizing, and modernizing Nigeria. power sector through the Presidential Power Initiative (PPI).
In case you missed it
- Nairametrics reports the details forpower sector in the recently passed budget and noted that staff and overhead costs are absent for the Transmission Company of Nigeria (TCN).
- TCN has budgeted zero Naira for its personnel and overhead costs but has over N26 billion for the total allocation in the 2023 budget.
- In the cost breakdown, TCN listed N26,264,639,559, as the amount for capital expenditure (CapEx), construction/provision of fixed assets, general construction/provision of electricity as well as its total capital, and general allocation.