The Senate Plans to review the process of privatization of the power holding company of Nigeria (PHCN) to improve production and distribution of electricity.
Chairman of the privatization committee of the senate, Ben Bruce, made this known during an oversight visit by the committee to the Benin Electricity Distribution Company.
Bruce says the proposed review aims at addressing the emerging problems facing operators in the nation’s electricity sector, including the foreign exchange crisis, and economic recession.
He explains that the senate will convene a public hearing on the proposed review of the PHCN privatization process which has been greeted by criticism some quarters.
One of the major critics of the PHCN Privatization by the Jonathan Administration is Africa’s richest ma, Alhaji Aliko Dangote, who asked the presidency to reverse the sale by retaking over from new investors.