Indications has emerged that the N170 billion
meant for disbursement to workers of the Power Holding Company of Nigeria
(PHCN) as settlement benefits to cover gratuities and pension of workers as
agreed by both parties in negotiation for the transfer of ownership of the PHCN
successor companies to their eventual owners is ready.
The Federal Government and the labour unions in
PHCN finally resolved lingering issues that were threatening the progress of
the power reform programme when they struck a deal late on the thorny issues of
severance pay and pension for electricity workers after a meeting at the office
of the Secretary to the Government of the Federation (SGF) in Abuja.
Speaking at the fifth national power summit organized
by the Federal Ministry of Power in Lagos, the Permanent Secretary at the
ministry, Dr. Dere Awosika disclosed that the funds for the settlement were
ready and the Bureau of Public Enterprises (BPE) was already working out total
cost.
Awosika explained that letters notifying the
workers to forward details of their Retirement Savings Account (RSA) for onward
transfers of their benefits will be issued out to the workers.
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