House of Reps Requests Urgent Sale of Non Core Power Assets
The House of Representatives has asked the Nigerian Electricity Liability Management Company Limited (NELMCO) to as a matter of urgency complete the sale of non-core power assets to avoid further loss of revenue to the government through theft of scraps and overtime cargoes that have become regular experience.
The House, had adopted the report of its joint committee on power and Privatization said NELMCO, which is saddled with the responsibility of administering the non-core assets of the defunct PHCN, should ensure re-certification and perfection of the title documents relating to the non-core assets.
Also, the lawmakers said NELMCO should re-evaluate the non-core assets with a view to obtaining a true value of the assets.
The House said NELMCO should appoint an auctioneer for the sale of PHCN scraps and obsolete items of the Abuja Electricity Distribution Company (AEDC), the Port Harcourt Distribution Company (PHEDC) and other DisCos in the country.
It would be recalled that the House had last year asked the company to suspend further sale of non-core power assets until an investigation into the matter was concluded, which is the basis of the above House recommendations.