President Goodluck described the occasion as historic amd a milestone in the country's long journey from a government-owned and operated electricity sector to a private sector-driven industry.
The Federal Government on Monday (30th September) at the Banquet Hall of the Presidential Villa, handed over share certificates and licenses to new core owners to 14 of the 18 PHCN successor companies.
In his remark, the president charged the new companies to put in every effort to ensure improvement on the present 4,000 megawatts of electricity being generated.
The generation companies (GENCOS) now in the hands of core investors are Geregu, Ughelli, Olorunsogo and Egbin Power plants, as well as Kainji and Shiroro Hydro electric plants. The Distribution companies (DISCOS) are: Abuja, Benin, Eko, Ibadan, Ikeja, Jos, Kano, potrt Harcourt and Yola.
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