Saturday, Jun. 8, 2013

Severance pay for PHCN workers begins June 17 – Minister

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June 5, 2013


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The federal govenrment will start the payment of a total sum of N384 billion as severance package to workers of the Power Holding Company of Nigeria (PHCN)  starting from June 17, minister of power, Prof Chinedu Nebo has said.
The core investors, who emerged after bidding, are expected to take over control of the successor companies after the payments have been made.
The minister was speaking in Lagos when he visited the Egbin power station in Lagos.
He said: “Very soon, your severance package or entitlement will hit your various account by June 17,  and I want to promise that nobody is going to find anything less than what has been aggreed.
“We hope to start payment of workers benefit by June 17 which is the tentative date we are working on, we need a lot of support from workers in areas of adequate information on the forms given to them.”
Tension between the federal government and the workers have been high in past months with the unions insisting all entitlements due to workers must be paid before hand over of the power firms to the preferred bidders.
The minister implored the workers to ensure that all forms given to them are signed and filled adequately.
He said the ministry was having issues with operational cost allocation which was not in the 2013 budget.
Egbin Power station, the biggest thermal station in Nigeria contributes about 25 per cent of the total power generation of the country.
Chief Executive Officer of Egbin Power Station, Mr Mike Uzoigwe said the major challenge facing the station was funding.
“It has installed capacity of 1,320 mega watts and currently generates 1,080 mw in five units,” he said.

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