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Nigeria Government Reveals that There is no Plan to Privatise the Transmission Company of Nigeria (TCN)

Nigeria Government Reveals that There is no Plan to Privatise the Transmission Company of Nigeria (TCN)

The Federal Government has outrightly, called out the false reports, circulating in the country, about the planned privatization of the Transmission Company of Nigeria -TCN.

In a statement, the FG issued on Wednesday, October 12, the federal government reported that there was no plan to sell or privatize the TCN and reaffirmed its commitment to an uninterrupted power supply in Nigeria.

This clarification is coming after President Muhammadu Buhari announced the federal government’s readiness to sell national assets in an attempt to raise capital to fund the budget deficits.

The Nigerian government under former President Goodluck Jonathan’s administration in 2013, privatized the power sector, leading to the establishment of the Generation (GenCos) and Distribution Companies (Discos).

The federal government has also announced its plans to retrench workers.

The official statement released by the FG read: 

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“These claims are untrue and are only mere misinformation aimed at spreading panic in the power sector, which is currently making progress towards ensuring that Nigerians enjoy uninterrupted power supply.”

“The Federal Government of Nigeria has no intention to sell or privatize the Transmission Company of Nigeria, and nobody in the FGN has made a statement of intent to sell TCN.”

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