No plan to privatise TCN, says FG

The Federal Government, on Wednesday, said there was no plan to privatise the Transmission Company of Nigeria (TCN).

This was even as it urged the public to dismiss such claims describing them as, “non-existing.”

The Minister of Power, Engr Abubakar Aliyu, in a statement signed by his Media Aide, lsa Sanus, said the reports were untrue and aimed at spreading panic in the power sector.

“The Federal Government of Nigeria has no intent to sell or privatize the Transmission Company of Nigeria, and no one in the FGN has made a statement of an intent to sell TCN,” the statement read.

It stressed that the TCN is a centrepiece in the government’s efforts to rejuvenate the power sector and as a result, the Ministry of Power was working with key stakeholders to evaluate, assess and upgrade the Company for efficiency and transparency.

“As part of the repositioning of TCN, job opportunities are being created, as with the recently concluded ramp up of employment, contrary to claims that there is a plan for a mass disengagement of staff at TCN.

“The organization has also been carrying out sustained capacity building by training and retraining of staff across all cadres for efficiency and service delivery,” the statement read.

It further explained that transmission is a vital segment of the electricity value chain that constantly needs significant investment adding that in line with 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.

“Currently, the Federal Government is investing and supporting efforts to make TCN a world-class transmission service provider.

“The Federal Government under the leadership of President Muhammadu Buhari focuses on upgrading, stabilising and modernising Nigeria’s power industry through various interventions, including the Nigeria-Siemens partnership under the Presidential Power Initiative (PPI),” it added.

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No plan to privatise TCN, says FG