Business Power investors to gain efficiency, set to lay-off last batch of PHCN workers - BusinessDay

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As investors in the newly privatised power sector get set to disengage the last batch of staff left over from the Power Holding Company of Nigeria (PHCN), industry and legal experts say the investors would gain from the efficiency and productivity that such a step provides.

They would also not be infringing on any aspect of the labour law, while this step would open the way for more investment into the system, they said.

The lay-offs are coming at the expiration of the six-month contractual agreement between both parties (the investors and PHCN staffers) which lapses Wednesday April 30.

Since the beginning of the privatisation exercise in 2013 about 40,000 of the PHCN’s total staff strength of about 45,000 had been verified and paid their retirement benefits by the Federal Government. Some of them were however retained by the new investors over a period of six months, for the purpose of assessing and retaining relevant staff.

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Source: BusinessDay

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