LET THE DRAMA UNFOLD! The Federal Government on Friday - TopicsExpress

LET THE DRAMA UNFOLD! The Federal Government on Friday officially dissolved the Power Holding Company of Nigeria after it handed over the 14 successor companies created from the unbundling of PHCN to their respective new owners across the country. Speaking at the official physical handover ceremony of the Abuja Electricity Distribution Company to its new owner, Kann Utility Consortium Nigeria Limited, the Minister of Power, Prof. Chinedu Nebo, stated that the government had paid N360bn to workers of the defunct PHCN. He said, “Distinguished ladies and gentlemen, PHCN has essentially cease to exist. We now have (electricity) distribution, generating and transmission companies. So it is no longer PHCN.

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