Vice President Namadi Sambo has announced
plans to handover the Power Holding Company of Nigeria (PHCN) to successor companies by Monday 30th Setember next week.

The Vice President who spoke at a meeting on
power sector reforms in Abuja also announced that
outstanding payments of pensions and gratuities of
workers of the defunct PHCN have been cleared.


He said the Federal Government plans to generate
a total of 10,000 megawatts of electricity before the
end of 2014 and 20,000 megawatts before the end
of 2016.

Financial experts, top government officials and
major players in the power sector attended the
forum to take stock of achievements, challenges
and prospects of the nation’s power sector and also
to celebrate the role of commercial banks in the
provision of support to the federal government’s
reform agenda to the power sector.

Vice President,Namadi Sambo listed some of the
challenges that must be tackled to achieve the
needed development in the sector ,one of which is
the handing over of successor companies to
investors for better output.

The CBN Governor, Lamido Sanusi also highlighted
major contributions of commercial banks to the
power sector, and according to him, over $2 billion
has been committed to the federal government’s
privatisation of the sector.


While a lot has also been done by government for
the provision of over 6 million meters which is to be
installed across the country, the chairman of the
technical committee of the national council on
privatisation, Atedo Peterside was of the view that
building a synergy between government and
members of the private sector is key to achieving
more success.

asha 80: that enugu disco sale is in court.i wonder what is to become of that.

taharqa:

daywatcher:
While a lot has also been done by government for
the provision of over [b]6 million meter[/b]s which is to be
installed across the country

only six million? please someone remind what is the population of Nigeria again?

kutchs:
Why?
Why do u need the human population when the issue here is the no of houses on which the meters are going to be installed?

lloydtruth: i hope this private sector won't bring their greedy moves into the power sector.