Unless the PHCN labour issues are resolved amicably, payment of the 75 per cent outstanding obligation for the privatised distribution and generation companies by their core investors would suffer a major setback.
This is even as Taleveras Group and Nortwest Power Limited yesterday emerged the preferred bidders for the Afam Power Plc and Kaduna Distribution Company, the two power companies that were not privatised along with the 15 others last year. The bids are however subject to final approval from the National Council on Privatisation chaired by Vice-president Namadi Sambo.
LEADERSHIP checks reveal that though many of the core investors would have wanted to pay up the outstanding sum, none of them is willing to take the final plunge while issues with labour have not yet been resolved.
The minister of power, Professor Chinedu Nebo, had earlier said that some of the power companies would be handed over to their core investors in July following full payment of the balance money, LEADERSHIP reliably gathered that so far no core investor has paid the balance.
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