The Minister of Power, Professor Chinedu Nebo has pleaded with Nigerians to brace up for some initial hiccups that may arise after the hand-over of the Power Holding Company of Nigeria to its new owners.
The minister noted that one of the major challenges would be possible rise in electricity tariff which he, however, assured “will not last long. It will reduce to a manageable level over time”.
Prof. Nebo made this known at the handover of the Abuja Distribution Company in Abuja to the new owners.
He said with the handover, the Power Holding Company of Nigeria, PHCN, has ceased to exist.
Prof. Nebo also assured Nigerians that the new owners of the successor companies would improve the nation’s electricity situation.
The handing over ceremony took place in 10 different venues simultaneously across the country where other PHCN facilities were handed over to core investors and new owners.