No plan to privatize TCN – FG debunks rumour

No plan to privatize TCN – FG debunks rumour

No plan to privatize TCN – FG debunks rumour. The Transmission Business of Nigeria (TCN) will not be privatized, the Federal Government has stated through the Ministry of Power, and has urged the public to disregard claims that the company would be sold. Engineer Abubakar Aliyu, the minister of power, made this announcement in a statement released on Wednesday through Malam Isa Sanusi, his SA Media.

“This is a reaction to media claims and assertions that a privatization proposal for TCN exists.

The ministry stated that “some media even mistakenly claimed that the abovementioned privatization is likely to take place in the next months.”

He claims that these rumors are false and are just an attempt to sow fear in the power industry, which is working to guarantee that Nigerians have a consistent supply of electricity.

He continued by saying that neither the Federal Government nor any government official has declared an intention to sell or privatize the TCN.

“The Federal Government of Nigeria’s attempts to revitalize the electricity industry are spearheaded by The Transmission Company of Nigeria (TCN).

Therefore, Engr. Aliyu said, “The Ministry of Power is continuing to examine, appraise, and modernize TCN to make it more efficient and transparent.”

He insisted that the Nigerian power sector is being upgraded, stabilized, and modernized by the administration of President Muhammadu Buhari through a variety of initiatives, such as the cooperation between Nigeria and Siemens under the Presidential Power Initiative (PPI).