The hope of an early completion of the privatisation of the power sector is being threatened by the inability of the Federal Government to settle all outstanding labour issues at the Power Holding Company of Nigeria and the subsidiary companies unbundled from the utility firm.
The preferred bidders of the 10 electricity distribution companies slated for privatisation on Tuesday demanded that the Federal Government must complete the payment of the severance benefits of the workers of the PHCN before August 21.
Speaking under the aegis of the Roundtable of Distribution Companies, a trade association formed by the successful bidders, they said they might not pay the outstanding 75 per cent of the bid sums for the Discos before the August 21 deadline if outstanding labour liabilities were not cleared.
However, the Federal Government has said it is not feasible for it to clear the N400bn entitlement of the PHCN workers before the stipulated date.
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