Government Promises To Pay Laid Off PHCN Workers

The minister of power, Chinedu Nebo, has promised that all laid off workers of the Power Holding Company of (PHCN) will be paid their benefits before the end of the month.

The minister said verification of over 44,000 workers of the company has been concluded while all labour issues between the federal government and the union of PHCN workers has been resolved.

The minister called for the participation of the private sector in transforming the nation’s power sector.

Major players in the nation’s finance sector at a forum organized by the Chartered Institute of Stock Brokers to deliberate ways of making critical sectors of the economy contribute to the federal government’s transformation agenda.

While wooing investors to take opportunities in the power sector, the minister of power listed efforts being made to make the sector more viable.

According to experts at the gathering, unlocking the pensions fund might be a fast way of getting it right in the energy and housing sectors.
They also suggested the listing of oil companies on the floor of the Nigerian Stock Exchange to fastrack development.

However the director general of the National Pensions Commission shared a different view on how to unlock the pension fund.

The nation’s infrastructural sector is indeed in dire need of reforms from both the government and the private sector. Experts at this forum believe that transformation in all sectors of the economy is achievable.