HOUSE COMMITTEE BEGINS PUBLIC HEARING ON ASSET SALES

The Ad Hoc Committee of the House of Representatives charged with the responsibility of determining whether or not there were irregularities in the disposal of these assets has commenced its public hearing. The Speaker represented by the deputy minority Leader of the House Onyenma Wilfred states that the hearing is to look at the reasons for the perennial power outages and why there has been no improvements since the sales among others.

No one can deny the importance of power to any nation’s economy and if it must grow, then the power sector must be stable. In a bid to find ways of making sure that Nigerians get value for their money, government in its wisdom offered for sale assets in the power sector by unbundling the power holding company of Nigeria PHCN, today however, that sale may have been a mistake in the reckoning of the House of Representatives as the problem still persists.

The hearing is to determine the terms of sale as outlined by the Chairman.