Business
PHCN Workers Protest Non-Payment Of Salaries
The premises of Ikeja Distribution Company of PHCN was last Thursday barricaded by members of the Nigeria Union of Electricity Employees (NUEE) protesting over non-payment salaries.
Mr Etukubes Mbang, the Vice-Chairman of Lagos/Ogun Chapter of the union, told the newsmen in Lagos that the workers were protesting against non-payment of five months’ salaries.
According to him, the workers are also protesting the refusal of management to transfer allowances of those that were moved from one location to another.
He said that some workers were still not receiving their salaries after the completion of the biometrics exercise.
Mbang said that the outstanding salaries were more than N390 million.
Mr Chris Akamnonu, the Chief Executive of the company, told our correspondent on phone that the management was working on the matter and the issues would be addressed soon.
He said that the protest had not affected power supply to customers in the unit.
According to him, the protest was mainly on the biometrics exercise which affected payment of some workers’ salaries.
“The non-payment of salaries affected just a small proportion of the workers and which we are working on.
“The case has been resolved now and the workers have gone back to their various offices.
“Over 3,400 workers have been paid,’’ he said.
It would be recalled that Prof. Berth Nnaji, Minister of Power, had said that any PHCN worker who failed to appear for the biometrics verification would not be paid.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.