Chairman of Transcorp Plc, preferred bidders for the Ughelli Power Plant, Tony Elumelu, yesterday chided the federal government for not considering Nigerian banks to join other international financial agencies to provide funding for the power sector.
Speaking at the presidential power reform transactions signing ceremony officiated by President Jonathan in Abuja, Elumelu, ex-CEO of United Bank for Africa said “Nigerian banks have come of age. They have the capacity to provide funding for the power sector.”
He also urged the federal government to expedite action on settling the lingering labour related issues so that the preferred bidders would take over ownership of the power plants and distribution companies.
Minister of power, Prof Chinedu Nebo had said earlier in his remarks that labour related issues including severance and gratuity entitlements would be resolved in June.
The companies who won the bids to buy the 10 power generating plants had paid the 25 percent down payment upon which they received the symbolic certificate of payment from President Jonathan yesterday.
Elumelu, who spoke on behalf of the preferred bidders at the event said, “We want the labour issues to be addressed. Some of us are ready to pay the 75 percent remaining to take over the power plants.”
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