03 September 2013, Abuja – The Bureau of Public Enterprises, BPE, and the new owners of the Power Holding Company of Nigeria, PHCN, Monday brainstormed on how to raise long term capital from the capital market into the sector.
A source, who spoke to The Nation in confidence, said the meeting discussed how the investors can raise long-term funds from the market for the sector.
He noted that the meeting was part of the preparation for a smooth handover of the plants to their buyers in order to reduce liabilities to the barest minimum.
BPE’s Director-General, Benjamin Dikki presided over the meeting that was held at the Transcorp Hilton, Abuja.
The Nation gathered that the meeting was interactive with the stakeholders in the power sector.
Those who attended included the Managing Director, Nigeria Electricity Bulk Trade , the Director-General, Security and Exchange Commission, SEC, Ms. Aruma Oteh and the Managing Director, Nigeria Electricity Liability Management Company, NELCOM, among others.
Dikki gave an update on the payment of severance package to the PHCN employees to the investors.
It was also learnt that the modality on how to engage labour under the new dispensation was a major issue at the meeting.
The source added that the meeting deliberated on the new workforce of the PHCN, and and the possibility of retaining some.
The Nation yesterday reported that the BPE and the new owners of the power entities were to meet.
– The Nation