…as banks get guidelines to sell 60% shares in DisCos to new investors
NOSA EGHAGHA
In a bid to provide succour and ensure the payment of the entitlements of ex-workers of aviation ground handling service provider – Skyway Aviation Handling Company Plc (SAHCO), the National Council on Privatisation (NCP), presided over by Vice President, Yemi Osinbajo, has approved the sum of N1.371 billion for the settlement of outstanding redundancy benefits owed the workers.
This was one of the highlights of the 6th meeting of the Council held at the Presidential Villa, Abuja.
The Director-General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, had presented a memo to Council seeking its approval for the payment of the sum due to ex-SAHCO workers
Okoh also informed the Council of the notice of “peaceful protest” received from ex-workers of SAHCO, who are also members of the National Union of Air Transport Employees (NUATE) and Air Transport Services Senior Staff Association of Nigeria (ATSSAN), on account of the non-payment of their outstanding severance entitlements after the disengagement of the workers from the company following its privatisation in 2009.
After deliberation on the matter, the Council gave the approval for the outstanding severance entitlements of the ex-workers to be paid.
The Council also received an update on the development of a 1,650 Mega Watts Hydro Power Plant in Makurdi, Benue State, particularly the inauguration of the Project Steering Committee and the proposed publication on the Expression of Interest for the engagement of a Transaction Adviser for the project.
Regarding the update on the concession of the Zungeru Hydroelectric Power Plant, the Council was informed that Requests for Qualification (RfQs) were received from 11 Consortiums, out of which 3 (NSP Consortium, Mainstream Energy and Africa Plus Partners) were shortlisted to present proposals for the concession.
On the restructuring of the Kano, Benin, Kaduna, Ibadan, and Port Harcourt DisCos, Council was informed that the notifications of change of Directors for all the DisCos had been filed at the Corporate Affairs Commission, while the BPE has issued guidelines to the banks/lenders for the sale of their 60% shares in the assets.
Further updates were received on the sale of five (5) NIPP Power Plants, particularly the engagements with the Nigerian Governors Forum on the NIPP transaction, and the resolution by the governors to constitute a committee to review the transaction and revert to the Bureau.
The Council expressed satisfaction with the BPE’s handling of the engagements with the governors on the sale of the NIPP and the Federal Government’s 40% interest in the Aba Ring-Fenced area.
