FG rejects TCN privatization plan

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The Federal Energy Ministry denied there was a plan to privatize or sell the Transport Company of Nigeria (TCN). TCN is among 18 companies that were separated during the privatization of the power sector in 2013. While six generating companies (GenCos) and 11 distribution companies (DisCos) were privatized, TCN was initially retained under a management contract by Manitoba Hydro International Limited of Canada.

In a statement today, Wednesday, from Issa Al-Senussi, spokesman for the Minister of Energy, Eng. Abu Bakre Aliyu, the ministry said it was responding to media reports and statements alleging that there was a plan to privatize TCN. She said, “The Nigerian Federal Government has no intention of selling or privatizing the Nigerian carrier, and no one in the FGN has made a statement of intent to sell TCN. TCN is the cornerstone of the Nigerian Federal Government’s efforts to rejuvenate the energy sector. Therefore, the Department of Energy is working with key stakeholders to further evaluate, value and upgrade TCN to make it more efficient and transparent.”

To put it back in place, the ministry said the hiring of more staff was done instead of disengaging the staff. The organization has also built capacity sustainably by training and retraining employees across all cadres for efficiency and service delivery. Transmission is a vital part of the electricity value chain that is constantly in need of significant investment and global best practices require the government to maintain it.

Currently, the federal government is investing and supporting efforts to make TCN a world-class transportation service provider. The statement said the federal government, under the leadership of President Muhammadu Buhari is focusing on upgrading, stabilizing and modernizing Nigeria’s energy industry through various interventions; including the Nigeria-Siemens partnership under the Presidential Energy Initiative (PPI).

 

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