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President Jonathan (flanked by VP Namadi Sambo) handing over share certificates and licenses to new owners of PHCN successor companies in Abuja

The Federal Government of Nigeria handed over the Eko Distribution Company, Marina, Lagos to the new owners, West Power and Gas Limited on November 1, 2013. On the same day in 10 different locations across the country, similar ceremonies involving the transfer of  PHCN facilities to the new private investment firms were taking place. Chairman of the National Council on Privatisation, Vice President Namadi Sambo, was represented at the Lagos handover by Olusegun Aganga, Minister of Industry Trade and Investment, who noted that the  Nigerian Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) would monitor the operations of the core investors to ensure they stick to the rules of engagement. The chairman was optimistic that the change in management of the power firm would herald quality supply of electricity across the nation.  
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This article was first published on 3rd November 2013

kunle-binuyo

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