‘FG Spent N487bn On Terminal Benefits To Ex-PHCN Workers’

The Director-General
of Bureau of Public Enterprises (BPE), Mr Benjamin Ezra Dikki has disclosed that Federal Government spent the sum of N487,000,000,000 to offset the terminal entitlements of former workers of the Power Holding Company of Nigeria (PHCN).
The D-G revealed this at a meeting with the Senior Staff Association of Communications, Transport and Corporations (SSACTAC), an affiliate of the Trade Union Congress (TUC) in Abuja.
Dikki said that though the whole proceeds of $2.6 billion about (N442,000,000,000) from privatisation of PHCN was not enough, but that the government had to go for additional N45 billion from the Federal Treasury.
He said one of the reasons the Federal Government decided to reform the housing sector was to ensure regulatory standard in the industry.
Dikki noted that reforms would introduce regulation in the housing sector to ensure standards as obtainable in the telecommunications, electric power and other key sectors of the economy.
He explained that the objective of the reforms in Nigeria’s housing sector was to ensure that the sector becomes vibrant, utilises local content and facilitates private sector investment.
He said government will always take cognizance of labour issues hence the inclusion of labour leaders in the membership of the National Council of privatisations (NCP) and the Steering Committee in the Restructuring of the Housing sector what he regarded as key in the development of the nation’s economy.
Responding, the President- General of SSACTAC, Mohammed Ynusa, said that FHA had in the past discharged its mandate satisfactorily but was presently hamstrung by poor funding.
Meanwhile the Minister of Power, Prof Chinedu Nebo has restated that Nigeria will generate 5,000 megawatts of power by May next year to stabilise electricity supply in the country.
He said there had been improved supply and that power generation had reached 4,500 megawatts.
Nebo who spoke Thursday at the singing of the contract for Ebonyi Independent Power Plant urged Nigerians to be patient and thankful for what is happening in the power sector so far.
According to him, there was about 2.7 million metres needed in Nigeria to satisfy consumers and added that the ministry wanted to put in place, mechanism that would enable the people to get the pre-paid metre.