AN energy solution expert has criticised the release of N8.3 billion to generation and distribution companies of the privatised Power Holding Company of Nigeria (PHCN).
The Federal Government had, last week, released N8.27 billion for Distribution Companies (DISCOs) and power generation companies (GENCOs).
A statement issued in Abuja by Mr Paul Nwabuikwu, spokesman for the Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, said the money was released, following approval by President Goodluck Jonathan.
It said: “N8.27 billion was specifically released to the Federal Ministry of Power for the DISCOs and GENCOs, following approval by President Goodluck Jonathan,” adding that the Ministry of Finance had paid N72.7 billion to the Federal Ministry of Power, so far this year, to cover various items in line with the implementation of the power roadmap.
The amount, Nwabuikwu said, included the N45 billion paid to PHCN workers, as part of the power privatisation programme and includes monies released under the Multi Year Tariff Order (MYTO). But the breakdown of the recently released N8.27 billion was not given.
According to Engr Bello Seriki, “You do not release for already privatised entity except for the settlement of wages. PHCN has been a revenue generation company which has been using the revenue to pay salaries of its casual staffs.
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