L
LequteMan
Guest
The Chairman, Technical Committee of the National Council on Privatisation, NCP, Mr. Atedo Peterside has disclosed at a special forum in Abuja that the Federal Government will earn about $8.3 billion (N1.328 trillion) from the sale of the unbundled power generation and distribution companies of the Power Holding Company of Nigeria, PHCN.
According to Vanguard, Peterside said a grand total of approximately $3.3bn (N528 billion) should accrue to the Federal Government’s coffers from the PHCN Generating companies (GENCO) and Distribution companies (DISCO) transactions.
He further stated that at a crude estimate of $1.2 million per mega watt, the sale of the Federal Government’s 80 per cent equity stake to core investors will raise close to $5 billion (N800 billion).
“I must emphasis that there is still some unfinished business with the privatisation of the Power Holding Company of Nigeria (PHCN), Successor Companies and so. Like accomplished sportsmen, I believe we must stay focused and not take our eyes off the ball until the game is truly over.” He said.
He suggested that the FGN should subsidize the tariffs for the poorest consumers- the R1 and R2 customers.
