STAKEHOLDERS in the power sector have expressed concerns over the continued shifting of the handing over date of the Power Holding Company of Nigeria (PHCN) successor companies to the new investors. This is coming against the backdrop of the confirmation that they have fulfilled their own part of the deal.
According to the revised power roadmap, privatisation was supposed to have been concluded in June, 2013, following an upward review of electricity tariffs in accordance with the Multi-Year Tariff Order (MYTO) II.
The MYTO II was primarily designed to ensure that the electricity tariff being inherited by new investors would be cost-reflective. Some consumers have complained that they are currently paying more even when power output has remained epileptic in the past few months.
Lastweek, the Director General, Bureau of Public Enterprises (BPE), Benjamin Dikki stated that the Federal Government would hand over the privatised successor companies of the PHCN to private investors on September 21, 2013, if they pay their money as scheduled. He disclosed that the PHCN privatization was expected to earn the Federal Government about $2 billion.
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