Indications emerged yesterday that President Goodluck Jonathan has instructed the ministry of power to seek an alternative means of funding the successor companies of the Power Holding Company of Nigeria (PHCN) to give them stability till they are handed over to the preferred bidders.
Speaking yesterday when the senate committee on power paid an oversight visit to the ministry in Abuja, Permanent Secretary, Amb. Godknows Igali said the zero allocation to the PHCN successor companies comprising of generation and distribution companies (gencos and discos) were having a hard time financing their operations.
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