Business Employees of PHCN to refuse the release of power firms

[jeff juwana]

PHCN workers have promised to refuse takeover of the electricity distribution and generation companies by the successful buyers until all payments have been made.
The employees stand differs from the recent pronouncement by the Federal Government that buyers that meet the deadline for the payment of the 75 per cent balance of their bid prices could now take over the companies.
Our correspondent gathered that the Federal Government had not cleared the workers’ pensions as captured in the agreement between both parties, but it went ahead to announce that all was set for the private investors to take over.
The General Secretary, Senior Staff Association of Electricity and Allied Companies, an umbrella body for the PHCN workers, Mr. Abiodun Ogunsegha, said on Sunday that the government was wrong to have stated that the power firms would be handed over to investors.
He said, "No company can take over until payments are concluded. Yes, the government has paid some workers, but it has not concluded the payment.
He added that, The Federal Government had not paid the pension of some workers yet announced that private investors could take over
The completion of payment now entitles the preferred bidders to take full possession of the 15 PHCN unbundled entities, which include 10 distribution companies and five generation companies," Nebo said.

 

[Tannoy]

Perhaps the FG wishes to confer the burden of debt to the new players? Such shameful behavior is not beneath this country. It's like we don't even care about our public image. The buyers have not even bought the power house and they are already reading news reports about unpaid staff.

Later this evening, our President will come on air and say, "Nigeria is a good place for investors. I wonder why investors are shying from this country. We welcome all investors."

Quick to blame the lack of investors on terrorism - but as always, blind to organizational faults.