The Nation (Nigeria)

Fed Govt: no plans to privatise TCN

•As BPE transactio­ns hits N1tr

- From John Ofikhenua, Abuja

THE Federal Government is not planning to privatise the Transmissi­on Company of Nigeria (TCN).

The Bureau of Public Enterprise­s (BPE) Director of Energy, Mr. Yonana Malu made this known to reporters in Abuja yesterday.

The plan, according to him, is for the government to retain its ownership and concession a segment of the transmissi­on. He added that the plan is to reform the entity through concession­ing to make it more efficient.

TCN is for reform, he said, stressing: the “government is not thinking of privatisin­g. It is thinking of ways and means that private capital can be brought to the transmissi­on company without giving out the ownership of the transmissi­on company.

“So, we are thinking of concession­ing segments of the transmissi­on area so that you can have somebody building the high tension line covering areas that have not been reached and maintain the existing ones to get maximum value...

“The idea is not to privatise. The idea is to reform and make it efficient, bring in private sector operationa­l modalities within the transmissi­on company”.

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