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PHCN privatization to be completed in two weeks

By on January 25, 2013
Anyim Pius Anyim and Segun Aganga

Anyim Pius Anyim and Segun Aganga

The much anticipated privatization of the Power Holding Company of Nigeria (PHCN) should be completed within two weeks. This is the assurance of the Federal Government, as declared by the Secretary to the Government of the Federation, Chief Anyim Pius Anyim yesterday in Lagos.

Chief Anyim who was in Lagos to unveil the Centenary document and project, expressed optimism that the Nation will witness remarkable improvement in the power sector with the privatization process underway.

He said “In the next two weeks, power generation and distribution will leave the government into private hands, as plans have been concluded to handover PHCN to new investors”.

On the Centenary (100 years of Nigeria’s existence) celebration which will start from this month till October 1,2014, Senator Anyim said “ The Successes of cities like Dubai, Monaco, Shenzhen, Singapore and Songdo, have shown that development of certain class of cities is the strongest social, political and economic tool to securing foreign investment, promoting positive international attention, and indeed signalling a new national economic awakening.”

He said the Federal Government was planning to provide the private sector partnership with 1,000 hectares of land along the Abuja Airport road, for a city that will be built from scratch to attract about $15 billion investment into the country, when completed.