On Wednesday, the Federal Government declared that there was no intention to sell the Transmission Company of Nigeria and encouraged the general public to disregard claims that there was a scheme to privatize the state-run power company.
This, according to the statement, was done in response to media allegations and claims that a plan to privatize TCN existed. Some of the stories made incorrect claims that the aforementioned privatization will occur in the upcoming months, according to the Federal Ministry of Power.
“These reports are untrue and are only mere misinformation aimed at spreading panic in the power sector, which is making progress towards ensuring that Nigerians enjoy uninterrupted power supply,” the FMP said in a statement issued in Abuja by the media aide to the Minister of Power, Isa Sanusi.
“The Federal Government has no intent to sell or privatise the Transmission Company of Nigeria, and no one in government has made a statement of an intent to sell TCN.
“The TCN is a centrepiece in the Federal Government’s efforts to rejuvenate the power sector. Therefore, the Ministry of Power, working with key stakeholders, is continuing to evaluate, assess and upgrade TCN to make it more efficient and transparent,” The ministry added.
Contrary to reports that the corporation had a plan for mass staff layoffs, it was said that job possibilities were being provided as part of TCN’s rebranding.
According to the ministry, “The organisation has also been carrying out sustained capacity-building by training and retraining of staff across all cadres for efficiency and service delivery.
It also added that, “Transmission is a vital segment of the electricity value chain that constantly needs significant investment. As is the best practice across the world, the government of Nigeria maintains the transmission segment of the power value chain even when other segments have been privatised.”
The Federal Government, according to the report, was putting a lot of effort into modernizing, stabilizing, and enhancing Nigeria’s power sector.
The Nigeria-Siemens relationship under the Presidential Power Initiative, among other measures, were being used to accomplish this, according to FMP.
