Power Sector: Blame States For Equity Sales’ Delay – BPE
The Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, has blamed some state governments for the evident delay in Federal Government’s 10 percent equity shareholding allocation to workers in the privatised power distribution companies.
He said some states are yet to act on the Nigerian Electricity Regulatory Commission (NERC)’s request for details of their investments in distribution companies prior to the privatization exercise.
The expected information would enable NERC evaluate all states’ government investments in the distribution network in their respective states.
Speaking at an interactive session with officials of the two electricity sector’s trade unions led by the General Secretary, Nigerian Union of Electricity Employees (NUEE), Comrade Joe Ajaero, the Director General said it is only when NERC “finishes the assignment that the BPE can allot to workers, state government and whatever is left would now be reserved for Initial Public Offering (IPO) when the companies become profitable.”
“We are working with NERC to conclude this assignment. NERC has assured that by the end of June 2017, it would take a final decision on the matter”, he added.
Okoh, who assured the unionists that the Bureau would address the outstanding labour issues emanating from the power assets’ privatization, appealed to the union officials to at all times manage pressures from their members.
He said BPE was working hard to ensure the release of the N1.1bn required to settle all outstanding entitlements of the PHCN’s ex-workers that have been dully verified.
In his remarks, the Secretary-General of NUEE, Mr. Joe Ajaero pledged to partner with BPE for a successful resolution and closure of all labour issues in the power privatization process.
