- The FG to concession the TCN
- No plans for an outright sale of TCN
- The FG to generate revenue from transactions
The Director, Energy Department of the Bureau of Public Enterprises (BPE) has stated that the Federal government does not plan to privatise the Transmission Company of Nigeria (TCN) but, to effect a management concession. The Director, Energy Department, BPE Yunana Malo, in a media conference, made this known.
Malo stated that the FG plans to hand over the company to private investors in a concession arrangement to get maximum value. He stated that the TCN has infrastructural challenges and a weak link in the power reform. “The seemingly weak link is the transmission component; it is still 100 per cent owned by the FG”, he said.
“Government is not thinking of privatising; it is thinking of ways and means that the private capital can be brought into the transmission component without giving out the ownership of Transmission Company”, Malo added.
“So the idea is not to privatise but to reform and make it efficient, bringing in private sector operational modalities within the transmission company.”
The Director BPE, Alex Okoh, has stated that the Federal is expected to generate ₦493.40 billion net revenue from various transactions approved by the National Council on Privatisation (NCP).