Buhari Mourns Isaac Sagay, Former Nigeria’s Ambassador To The Holy See

Calls To Sell Transmission Company of Nigeria Meant To Spread Panic – FG Counters Claim

3 mins read

Contrary to several media reports, the Transmission Company of Nigeria (TCN) will not be sold by the Nigerian government, a statement released on Wednesday by the Federal Government has shown.

There have been claims that the Transmission Company of Nigeria (TCN) will be sold to bring an end to government involvement in the power sector. 

Recall that the former administration of Goodluck Jonathan had partially privatised the power sector in 2013, leading to the sale of the Generation Companies (GenCos) and Distribution Companies (Discos). 

On Wednesday, the Federal Government said the Transmission Company would not be sold like the GenCos and the DisCos, stating that any reports alluding to it intends to spread panic in the power sector. 

The statement reads, “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. 

READ ALSO  WAEC Releases 2021 WASSCE Results For Private Candidates

“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 Transmission Company of Nigeria (TCN) is a centrepiece in the Federal Government of Nigeria’s efforts to rejuvenate the power sector. Therefore, the Ministry of Power working with key stakeholders is continuing to evaluate, assesses and upgrade TCN to make it more efficient and transparent. 

“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 cadre for efficiency and service delivery. 

READ ALSO  Electricity Workers Snub Buhari's Minister, Shut Down Nigeria's Power Plants

“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 privatized. 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, stabilizing and modernizing Nigeria’s power industry through various interventions, including the Nigeria-Siemens partnership under the Presidential Power Initiative (PPI).”

+ posts