PHCN management staff in ‘high powered lobby’ to retain jobs

PHCN management staff in ‘high powered lobby’ to retain jobs

Indications emerged Wednesday that many top management staff of the Power Holding Company (PHCN) are already involved in “high-powered lobbying” of the new core investors, in a bid to retain their jobs in the impending purge.

This is coming against the backdrop of plans for mass sack of employees in the various generation and distribution companies scattered across the country.

The new owners who are expected to invest in state of the art facilities for effective and profitable running of the various assets, have hinted of the impending lay-off already, saying PHCN is over-staffed, and that many of the workers have no technical relevance to its operation.

An investor in one of the PHCN sister companies who craved anonymity because of “the business risk involved,” told Daily Independent “yes, they have been calling and meeting us and our representatives on this matter employment. They want to retain their jobs while some even want better jobs.

“But the challenge we are faced with is that the PHCN is already over-populated by staff who are of no technical relevance to the business.

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“Only the technical staff could be considered and this will have to be done using the best of practices and global business standard,” he said.

This came as the Federal Government declared that the PHCN is already on the brink of extinction.

Minister of Power, Professor Chinedu Nebo who said this maintained that the investors are already anxious of the October 1, hand over date, even as electricity workers’ union are spoiling for a fight over the non-payment of the agreed severance package to 70 per cent of the PHCN workforce as of Tuesday.

But Nebo insists almost all the workers have received their due severance benefits, stressing that what is left now is payment of independent retirement benefits.

He maintained that government is ready to hand over while many of the investing companies are also ready to take over the assets of the PHCN.

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“We have come very close to the end of PHCN. Basically, almost all of the staff have been paid. What is left is independent retirement benefit that is going to be paid into their accounts. We are actually ready to hand over and many of the companies are willing to take over.”

The only thing is that the Minister needs to declare a transitional electricity market and that will be done when all the conditions precedent to that declaration have been put in place “I can tell you that PHCN has almost ceased to exist now.

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