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Wednesday, July 28, 2021
Home Midstream Gas/Power No plan to privatise TCN – BPE

No plan to privatise TCN – BPE

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Director, Energy Department, Bureau of Public Enterprises (BPE), Mr Yunana Malo, has said that there is no plan to privatise the Transmission Company of Nigeria (TCN).

He said, at a media conference on Monday in Abuja, rather than that, the Bureau would concession it to get maximum value.

He said transmission was the weak link in the power reform, as generation which was privatised had since attracted a lot of investments, making it more efficient.

He said the generation capacity had improved, adding that 60 per cent of the distribution segment had also been partially privatised and was beginning to pick up through the reforms of the Federal Government.

“The seemingly weak link is the transmission component, it is still 100 per cent owned by the FG. The idea is to think outside the box and bring in solutions that will make the transmission component service the value chain, and make it more efficient. Government is not thinking of privatising, it is thinking of ways and means that the private capital can be brought into the transmission component without giving out the ownership of Transmission Company,” said Malo.

He explained that the Bureau would concession the transmission segment, “so that we can have somebody building the high tension lines, covering areas that have not been reached or to maintain the existing ones to get maximum value, to move from the radial system we have today into a mesh.

“So the idea is not to privatise but to reform and make it efficient, bringing in private sector operational modalities within the transmission company.”

On the Federal Government’s 40 per cent stake in the Distribution Companies (DISCOS), Malo said the shares were still intact and protected by BPE.

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