19 February 2013

Nigeria: PHCN Sale - Reps Warn Against Stoppage of Funding

The House of Representatives has advised the Presidency against stoppage of funds to the Power Holding Company of Nigeria (PHCN) successor companies even though their hand over date to the preferred bidders is near.

Speaking on Friday at a stakeholders retreat for the presentation of a draft review of the power sector roadmap in Abuja, the House committee chairman on power, Rep Patrick Ikhariale, said the fact that time was near for the takeover of the GENCOS AND DISCOS was not enough reason not to fund the companies.

He said, "Various discos are groaning under unfamiliar circumstances; lack of funding. There must be a meeting point between the legislature and executive."

The legislator said apart from the Egbin and Geregu power generation stations, there is no other power station in the country that generates beyond 40 percent capacity, a situation he said was unacceptable.

He said the national assembly was doing all within its powers to collaborate with the executive arm of government to ensure adequate power supply for Nigerians.

He bemoaned the almost total neglect of the sector in the past which led to the present situation in electricity supply.

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