Nigeria’s Ministry of Power has dismissed reports suggesting that the Federal Government is planning to privatize the country’s power transmission company TCN.
According to the Ministry, there is no plan to sell the Transmission Company of Nigeria (TCN).
“Some of the reports even falsely claimed that the said privatization is going to take place in coming months,” the Ministry of Power said in a statement issued by Malam Isa Sanusi, Special Advisor to the Minister.
According to him, 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 an uninterrupted power supply.
He further explained that the Federal Government has no intent to sell or privatize the company and that no government official has made a statement of intent to sell the 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, assess and upgrade TCN to make it more efficient and transparent,” he said.
He maintained that the 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).
Source: https://energynewsafrica.com