PHCN reverses strike as FG agrees to pay entitlements before New Year

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Chairman, Presidential Task Force on Power, Beks Dagogo-Jack has disclosed that the Federal Government would pay all outstanding entitlements of PHCN workers before January 1st, 2014.

He made the disclosure whilst speaking at a Power Investors’ Summit organised by the EnergyNet Ltd. in partnership with Nextier Capital in Lagos.

He said, “We have an agreement with the PHCN workers unions and we have almost completed the payment, but they will all be settled before Jan.1, 2014 deadline.”

He explained that the FG had only done a formal handing over of power assets to investors and that the physical hand over will take place in December.

During now and December, Dagogo-Jack explained that there would be a transition period in the management of the sector. He said it would allow the investors to make any necessary adjustments.

In the transition setting, it gives you an opportunity to test where you are heading to so that when you get there you cannot go wrong,” he said.
The task force chairman said that most of the contracts in the power sector would be completed between now and December
“All the contracts will be put in place and other things will be tidied up within this period,” Dagogo-Jack said

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