BY GABRIEL ENOGHOLASE

BENIN – THE Federal Government  said it has set aside a total of N400billion to settle workers benefits before Power Holding Company of Nigeria, PHCN facilities are handed over to private investors.

This came as it reiterated its plans to generate 40,000 mega watts of electricity by the year 2020, saying that the country needs over 10,000 mega watts of electricity to meet its industrial and domestic consumption.

Minister of State (Power) Mr.Nuhu Somo Way who spoke at the end of his two-day official visit to Edo, Delta and Onitsha in Anambra state to access the level of works of IPP and NIPP projects, said, “in accordance with our 2020 Vision Document, we are hoping to hit a target of 40,000 mega watts by the year 2020.

So, each year, we need to add from now on at least 3000 mega watts of electricity up to the year 2020. I have the confidence that with the reformed program of Mr. President, with the Road Map we are vigorously pursuing, we will surely achieve this objective”.

Asked what would be the maxima mega watts of electricity needed in Nigeria for her domestic and industrial consumption at the moment, the Minister said, “When we put together our existing infrastructure in the PHCN and the IPP projects that are on and off-course the NIPP projects which we are now implementing, we are sure of 10,000 mega watts installed capacity”.

He disclosed that the Federal Government was already discussing with investors from across the globe who have indicated interest in investing in the power sector of the economy, saying that they will come in with their own generation plans.

On the Ihobvor NIPP Plant in Uhunmwode local government area  of Edo state which is expected to generate over 500 mega watts of electricity, the Minister expressed satisfaction with the level of work so far done by the contractors.

According to him, “the completion at the moment is about 70- 80 percent. With the power plant, we can say about 70-80 percent completion. When we talk of completion in Engineering, we are talking of procurement and construction, most of the equipment has been 100 percent procured when you aggregate this, it about 70 percent completions”

He also disclosed  that the government has released over N56Billion for the payment of compensation of the monetization arrears to workers of the Power Holding Company of Nigeria (PHCN)in its effort to boost the morals of the work-force of the company.

He said that the disbursement of the fund was to extend further the statutory confidence of the federal government to workers under the nation’s power sector even as he announced that the government has set aside another N400 billion which would soon be disbursed to workers before the transfer of the company to the private sector.

“We are not doing a send forth for our workers. We are just giving them what is accrued to them. No worker had it so sweet [in this country] like the PHCN workers. .Now I want to assured all Nigerians that the first beneficiary of this privatization drive we are doing are the PHCN workers themselves”, he said.

Mr. Wya who assured the workers that the privatization drive would not result in the  mass sack of PHCN workers, adding that the government was concerned  on how to improve the standard of living of the workers.

He added that the workers stands a better chance of be retained when the transfer of ownership of the PHCN to the private sector comes come on board.