The minister stated that the TCN is at the heart of the FG’s plans to boost Nigeria’s power sector, noting that there are no plans to sell the company.
He added that the FG is working to make the TCN’s operations more efficient.
“As part of the repositioning of TCN, job opportunities are being created, as with the recently concluded ramp up of employment, contrary to claims that there is a plan for mass disengagement of staff at the company.
“The organisation has also been carrying out sustained capacity building by training and retraining of staff across all cadre for efficiency and service delivery.
”Transmission is a vital segment of the electricity value chain that constantly needs significant investments,” he said.
He added that the FG maintains the transmission segment of the power value chain even when other segments have been privatized, and that it was investing and supporting efforts to make TCN a world-class transmission service provider, focused on upgrading, stabilising, and modernising Nigeria’s power sector through the Presidential Power Initiative (PPI).
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Nairametrics reported the details for the power sector in the recently passed budget and noted that the personnel and overhead costs were absent for the Transmission Company of Nigeria (TCN).
The TCN has budgeted zero Naira for its personnel and overhead costs but had over N26 billion for total allocation in the 2023 budget.
In the cost breakdown, TCN listed N26,264,639,559, as the amount for its capital expenditure (CapEx), construction/provision of fixed assets, general construction/provision of electricity as well as its total capital, and total allocation.
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