The federal government has said that the extension of the PHCN privatisation process? to October this year was necessitated by the need to ensure transparency and thoroughness in the bids submitted so far.
The Minister of State for Power, Mr Darius Ishaku, stated this yesterday when the United State Under Secretary of Energy, Mr Timothy? Pascaul and his team, led by the Under Secretary for Political Affairs, Wendy Sherman, visited him in his office in Abuja.
Ishaku assured the United States Government that the privatisation of the? power? sector was still on course even as he informed the Americans that the electricity bulk trader has already been established and is being?? supported by the World Bank Partial Risk Guarantee in a bid to assure investors of the safety of their investment.
On the increase in electricity? tariff, Ishaku noted that it was inevitable in order to meet the enormous cost of electricity generation as well as encourage investors to come in and invest in the sector.