The Federal Government has said workers of the Power Holding Company of Nigeria will start receiving the pay cheques for their severance benefits from this week in preparation for the conclusion of the privatisation of the power sector.
The Minister of Power, Prof. Chinedu Nebo, said this at a power sector development forum organised by the Federal Ministry of Power in conjunction with a German power firm, Siemens, in Abuja on Tuesday.
“There has been a directive for the payment of the PHCN workers, which may commence this week,” he said.
Nebo also said that a proper audit of the payment processes, which delayed the final disbursement of funds to the workers, had been concluded.
The minister said the Federal Government had so far disbursed N21.2bn to the three segments of the nation’s electricity supply industry.
The segments, according to him, are electricity generation, transmission and distribution companies.
While outlining the efforts made in funding the sector, he said, “These include the release of AfDB (African Development Bank) loan of $100m to the TCN (Transmission Company of Nigeria) for critical transmission projects, and the release of N5.2bn special intervention fund to distribution and generation companies for operation and maintenance services.”
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