The Federal Government, through the Ministry of Power, said there is no plan to privatize the Transmission Company of Nigeria (TCN), thereby urging the public to dismiss statements regarding a non-existing plan to sell the company.
Minister of Power, Engineer Abubakar Aliyu, disclosed this in a statement issued on Wednesday via his SA Media, Malam Isa Sanusi.
“This is a response to media reports and statements claiming that there is a plan to privatize TCN.
“Some of the reports even falsely claimed that the said privatization is going to take place in coming months,” the ministry said.
According to him, these reports are untrue and are only mere misinformation aimed at spreading panic in the power sector, which is making progress towards ensuring that Nigerians enjoy an uninterrupted power supply.
He further explained that the Federal Government has no intent to sell or privatize the company and that no government official has made a statement of intent to sell the TCN.
“The Transmission Company of Nigeria (TCN) is a centrepiece in the Federal Government of Nigeria’s efforts to rejuvenate the power sector.
“Therefore, the Ministry of Power, working with key stakeholders, is continuing to evaluate, assess and upgrade TCN to make it more efficient and transparent,” Engr. Aliyu added.
He maintained that the government under the leadership of President Muhammadu Buhari focuses on upgrading, stabilizing, and modernizing Nigeria’s power industry through various interventions, including the Nigeria-Siemens partnership under the Presidential Power Initiative (PPI).
