The Federal Government yesterday said it would settle all outstanding workers’ severance payments with the Power Holding Company of Nigeria (PHCN) before the end of June, this year.
The Minister of Power, Professor Chinedu Nebo, said this at the Presidential Power Reform Transaction Signing ceremony in Abuja.
Though the government recorded an achievement in the power sector reform when it handed over certificates of 25 per cent payment for the first installment of the purchase of the PHCN generation and distribution companies, severance package for workers had remained a problem.
However, a representative of the Generation Companies (GENCOs), Tony Elumelu, said once the government removes the labour crisis barriers, the investors are ready to pay their 75 per cent balance instead of waiting for the expected six months.
Elumelu, the Chief Executive Officer, Transacorp & Woodlock Consortium, that invested in the Ughelli Power Pant, urged the government to resolve the outstanding labour issues.
“The Hon. Minister has said it will be concluded before the end of June. Some of us are ready to pay the balance of 75 per cent today and go on. But we do not want the labour issue to affect us,“ he stressed.
Already, the Federal Government has appropriated N45billion in the 2013 budget for settlement of labour arrears. President Goodluck Jonathan approved N348billion for the same payment.
The deficit, said the Chairman, Presidential Task Force on Power (PTFP) Dagogo Jack, could be raised from other sources, such as proceeds of the PHCN privatisation.
He said: “There are other sources to fund the settlement. If you come to the conclusion that there is only N45billion in appropriation, that means there is no money. You might not be right. It is a government responsibility. You just have to act in good faith that the government will find a way.”
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