Business
Govt Examines Appropriate Model For TCN’s Privatisation
The Federal Govern
ment is considering appropriate models to be adopted in the privatisation of the Transmission Company of Nigeria (TCN) to private investors.
Minister of power, Prof Chinedu Nebo disclosed this in Lagos recently while taking receipt of the 248 containers of power equipment abandoned at dry ports in some parts of the country.
Nebo said that the Federal government is looking at the various appropriate model for the privatisation including full privatisation, regional privatisation and concessioning models to avoid the pitfalls and challenges noticed during previous privatisations.
He said “the power sector timetable is on course but there are teething problems we are encourntering. Nigeria took on a huge privatisation exercise that no country in the world has done the volume of privatisation of utilities that Nigeria has done.”
He said the privatization was done in a very transparent process, stressing that Federal Government wants to get things right from the beginning with TCN privatisation.
He further stressed that TCN is being managed by an international organisation, Manitoba Hydro International and government is prepared for the eventual handing over all of power stations to those who know how to do business.
Nebo said it is the private companies that know how to do business with the role of government being an enabler.
He said there is massive inflow of investors who want to come and invest in TCN stressing that this is a clear indication that people believe in Nigeria and its buoyant economic stance.
He said government is doing everything to encourage more investors into the country, advising Nigerians to always support the Federal government privatisation efforts.