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Alex Okoh, director general, Bureau of Public Enterprises explains why the federal government is yet to allot 10 percent shares of privatised power companies to stakeholders
ALEX Okoh, director-general of the Bureau of Public Enterprises, BPE, has explained that the federal government is yet to allot the 10 percent equity shareholding in the privatised power distribution companies to the workers because some state governments have not responded to the request by the Nigerian Electricity Regulatory Commission, NERC, to provide details of their investments in the distribution companies prior to their privatisation. The information would enable NERC undertake evaluation of all state government investment in the distribution network in their states
In an interactive session on June 2, with officials of the two trade unions in the electricity sector led by Joe Ajearo, general secretary of the Nigerian Union of Electricity Employees, NUEE, Okoh pointed out that 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.
The Director General assured the unionists that he would address the outstanding labour issues emanating from the privatisation of the power assets.
He appealed to the union officials to at all times manage pressures from their members as the Bureau is working round the clock to ensure that the N1.1billion required for the payment of the outstanding entitlements of the ex-workers of PHCN who have been verified was released.
Earlier, Ajaero pledged to work with the BPE for a successful closure of all the labour issues in the power privatisation, according to a statement by Chukwuma Nwokoh, head, Public Communications.
— Jun 5, 2017 @ 12:15 GMT
Tags: Alex Okoh Bureau Director Enterprises general N1.1billion NERC Nigerian Electricity Regulatory Commission PHCN
