Abuja — About 54,000 sacked members of staff of Power Holding Company of Nigeria (PHCN), who have been battling with the Ministry of Power to get their entitlements settled will now be paid an approximate sum of N384 billion.

Minister of Labour, Chief Emeka Wogu, announced this to state House Correspondents yesterday after the weekly Federal ExecutiveCouncil (FEC) meeting presided over by President Goodluck Jonathan.

Wogu, who brokered the last negotiation between the government and the labour unions, said the payments, approved by President Jonathan would start today with his ministry and that of power coordinating the exercise.

"The total package is approximately N384 billion in full payment of all outstanding benefits that we agreed upon. It will be done within the best principle of transparency and accountability.

"I want to inform you that the agreed benefits accruing to the staff of PHCN in the last negotiation between government and the Labour Unions has been approved by the President Goodluck Jonathan.

"Payment of the agreed sum will commence immediately and that bring to an end, the issue of non-payment of benefits to an end. So, we enjoin labour unions in the power sector to work closely with the Ministry of Power in the payment of these benefits as agreed. The process will commence tomorrow and I want to assure them that this brings to an end the labour issue in the sector," he added.

"This payment is only for PHCN staff and in determining who should benefit, labour and government conducted a biometric exercise. The number of people benefiting is clearly defined by this agreement," he concluded.