Workers’ compensation gulped PHCN sales proceeds —BPE

 

 The Bureau of Public Enterprises has revealed that all the money realized by the Federal Government from the sale of the 17 successor companies of the Power Holding Company of Nigeria was expended on the entitlements of the workers of the defunct monopoly. 

The Director-General, BPE, Mr. Benjamin Dikki, who said this in Abuja on Tuesday, noted that the management of labour issues in the power sector was more challenging but President Goodluck Jonathan directed and insisted that every one of the over 47,913 workers of the PHCN must receive every kobo of his or her entitlements.

He added that as a result, all the proceeds from the sale of the unbundled companies of the defunct state monopoly were expended on the settlement of workers’ entitlements across the country.

The BPE boss said managing the various stakeholders was one of the greatest challenges to the reform and privatisation programme of the Federal Government.