Fashola Unfolds Pestructuring plans For TCN

Fashola Unfolds Pestructuring plans For TCN

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, while speaking on Arise News – a sister broadcast arm of THISDAY, disclosed that the next plan of the government for the Transmission Company of Nigeria (TCN) would be to hold on and run it as an efficient firm after an ongoing restructuring of the entity, THISDAY reports.

His assertions on TCN suggested that government was not considering a fresh management contract or concession arrangement for the transmission network. He said; “The plans of government in summary is to make the TCN a very effective corporate organisation that discharges its responsibilities and plays its roles in the power value chain.” He added that the TCN currently has an interim managing director to stabilize the company for six months after which a new managing director and management team would be appointed.

He then added: “Ultimately, we expect to see a very rich mix of private sector skill brought in to merge with the experience that is clearly in TCN, because most of the people, especially at senior management have a history of these transmission assets, how they were built, where they are located, and I think a proper mix of that with a clear governance [and] rules of engagements will give you a more efficient company.”

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