The official handing-over ceremony of the Power Holding Ceremony of Nigeria (PHCN) to private companies is currently ongoing in Abuja.

The event which began around 10:00 a.m was declared open by the Minister of Power, Professor Chinedu Nebo, who described the privatization of the nation’s electric supplier as one of the most ambitious of its kind ever embarked upon by any administration in Africa. He said the series of reforms, including the welfare of PHCN workers, have been handled, while the slight delay experienced during the payment was due to large number of those PHCN workers.

He acknowledges President Goodluck Jonathan’s supports which helped in making the privatization a huge success.

Present at the occasion include President Goodluck Ebele Jonathan, Vice-President Namadi Sambo, representatives of companies that took over the nation’s electronic supplying company, and many more.