House Of Reps Investigate Sale Of PHCN Non-Core Assets

The House of Representatives yesterday resolved to
investigate the status and sale of non-core assets of the defunct Power Holding
Company of Nigeria (PHCN) transferred to the Nigerian Electricity Liability
Management Company(NELMCO) prior to the liquidation of PHCN.

Consequently,  the
House mandated its committees on Power and Bureau of Public Enterprises (BPE)
to ascertain the methodology that was used for the liquidation and whether such
properties were well valued.
The committees were also mandated to ensure full compliance
in the case of PHCN non-core properties that have not been sold and that
proceeds from the sales are transferred to to the coffers of the Federal
Government, and report back to the House within four legislative weeks.
This is sequel to a motion brought before the House at
yesterday’s plenary by Hon Chukwuemeka Ujam (PDP,Enugu).
Moving the motion, Ujam said in 2011, all non-core assets of
the PHCN were transferred to NELMCO for disposal in line with the Electric
Power Sector Reform Act.
He noted that these non-core assets worth several billion
dollars and spread across the country and the world were supposed to be valued
and then transferred for sale or put to use in order to recoup investments in
the defunct PHCN.
The lawmaker expressed concern that at a time when the
country is facing economic recession, with calls for the sale of government
assets, some of these non-core assets belonging to the defunct PHCN are either
laying fallow or diverted.
He added that some of these properties have been leased at
undervalued rates while some have been given away as gifts to electricity
Distribution Companies(DISCOs) and called on the House to investigate the
Speaking on the motion, 
the Deputy Speaker,  Hon Yussuff
Lasun, who presided at yesterday’s plenary said because the motion was calling
for an investigation, it would not require any debate “so we don’t pre-empt the
Meanwhile, the members of the House also decried outrageous
electricity bills by DISCOs across the country.
The members while contributing to debate on a motion by Hon
Rita Orji (PDP, Lagos) on the disconnection of electricity supply to Amukoko
Local Council Development Authority of Lagos State by Eko Electricity Distribution
Company over alleged non-payment of outrageous electricity bills.
Hon Fred Agbedi(PDP,Bayelsa)said since Bayelsa State join
the national grid,  residents of the
state have been saddled with burden of outrageous electricity bill. 
He said his
residence in Yenagoa is given an electricity bill of N250000 monthly whether or
not any power is consumed in the house or not.
At the end day debate, the House resolved to mandate its
Committee on Power to investigate the billing system of DISCOs across the country.

The committee is also to delegate its members to Amukoko to
ascertain the situation on ground so as to avert s breakdown of law and order
in the area over the issue.


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