The Federal Government, FG, has ruled out the plan to sell the Transmission Company of Nigeria, TCN.
BizWAtch Nigeria understands that there had been media reports claiming that there was a plan to privatise the TCN.
Enjoining the public to dismiss statements regarding a non-existing plan to privatise the government-owned power firm, the Federal Ministry of Power, in a statement, said some of the reports falsely claimed that the reported privatisation was going to take place in the coming months.
“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.
“The Federal Government has no intent to sell or privatise the Transmission Company of Nigeria, and no one in government has made a statement of an intent to sell TCN.
“The TCN is a centrepiece in the Federal Government’s efforts to rejuvenate the power sector. Therefore, the Ministry of Power, working with key stakeholders, is continuing to evaluate, assess and upgrade TCN to make it more efficient and transparent,’ the statement read.
The ministry also debunked claims that there was a plan for mass disengagement of staff at the company.
“The organisation has also been carrying out sustained capacity-building by training and retraining of staff across all cadres for efficiency and service delivery.
“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 privatised,” the statement added.
