Electricity: TCN Management Contract May Collapse

The contract between the Federal Government and a Canadian firm, Manitoba, for the management of the Transmission Company of Nigeria may go awry following the stripping of Manitoba of powers to control human resource and finance at the company.

Investigation by our correspondent showed that the Canadian firm, which in July sealed a N3.72bn deal to manage TCN, one of the successor companies carved out of the Power Holding Company of Nigeria, had lost its powers to manage the organisation at the insistence of PHCN workers.

With this development, the PHCN workers are to control both the human and financial resources at the company, while Manitoba employees seconded to Nigeria will be responsible for the technical expansion of the nation’s power grid.

While 17 other PHCN successor companies were slated for either privatisation or concession in the ongoing power sector reform programme of President Goodluck Jonathan, the Federal Government retained 100 per cent ownership in TCN.

Source: PUNCH