Privatisation: FG Approves N348bn Severance Benefits for PHCN Staff

ABUJA: Biztellers, Wednesday, reports that the Federal Government has approved N348 billion as severance package to disengaged staff of the Power Power-Holding-Company-of-Nigeria-PHCNHolding Company of Nigeria (PHCN). The Minister of Power, Prof. Chinedu Nebo, who disclosed this in Abuja stated that the sum of N45 billion was actually budgeted for the purpose in this year’s budget, while the short fall would be made up by the Federal Government from the sale of PHCN.

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