FG To Pay PHCH’s Junior staff N8m Severance Package

FG To Pay PHCH’s Junior staff N8m Severance Package

The least qualified staff of the Power Holding Company of Nigeria with School Certificate will be paid a minimum of N8million while the highest officer in the organization will receive at least N38million total package in the  payment arrangement being organized by the federal government as part of the repositioning of the company.

Minister of Power, Professor Barth Nnaji who stated this Monday while addressing state House correspondents after briefing Goodluck Jonathan on the Key performance Indicator KPI described unions in the PHCN  as outlaws who are inconsiderate of the various positive steps being taken by Federal Government to address their plight following the privatization of the organization.

According to the minister  the Federal Government has accepted to pay the aggrieved workers a total of 15 percent as severance package for each employee over a period covering 2003 to 2012.

Part of the payment the minister said, will comprise of 7.5 percent employer contribution as specified under the new pension law and another 7.5 percent expected to have been contributed by the workers themselves.

He said  available records indicated  that PHCN has failed to remit its quota of 7.5 percent to the workers pension accounts, adding that Government has however accepted to pay such defaults amounting to 15 percent for each beneficiary against insinuation that the PHCN workers will receive a flat benefit of N85,000.

“The talk about some staff going home with N85,000 is from people who have a different mission,” he said.

“The PHCN unions are contituting themselves as outlaws,” the minister said.

Speaking on  the performance of the power sector, Professor Nanji said  the National Assembly NASS approved a total of N78.4b to cover other constituency projects adding that of this amount, N21.5billion had been released with N 11.4billion representing 52.5 percent utilized.

He said the 2012 budget  focused on resucitating the Rural Electricity Agency to make electricity more accessible to Nigerians particularly at the rural areas.

“National Integrated Power Projects NIPP projects have been accelerated and will be completed this year. There are 10 NIPP plants across the country. Government is working hard to supply gas to the plantsn” he said.

He said the  2013 budget will concentrate on giving  full implementation of the electricity reforms and completion of on going projects as well as establishment of gas and power infrstructure bond with increased funding of generating companies.

He said  power will continue to improve in the country considering the efforts being made by government.

Source: Naija.ng

Related news
Falana benefited from loot, bought N1bn mansion from me - Maina

Falana benefited from loot, bought N1bn mansion from me - Maina

Falana benefited from loot, bought N1bn mansion from me - Maina
Mailfire view pixel