National Privatization Council approves N1.3 billion severance pay to former SAHCO workers

The National Council for Privatization (NCP) approved the sum of N1.371 billion for the settlement of outstanding severance benefits owed to former workers of the aviation ground handling service provider: Skyway Aviation Handling Company Plc (SAHCO).

This is one of the highlights of the sixth meeting of the Council, held last Friday at the Presidential Villa, Abuja and chaired by Vice President Yemi Osinbajo.

Memorandum for approval: The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, submitted a memorandum to the Council requesting its approval for the payment of the sum owed to former SAHCO workers.

  • The Director-General also briefed the Council on the notification of “peaceful protest” received from former SAHCO workers, who are also members of the National Union of Air Transport Employees (NUATE) and the Nigerian Air Transport Services Senior Staff Association. (ATSSAN).
  • Disgruntled ex-employees had threatened to protest the non-payment of their outstanding severance payments since their severance in 2009 following the privatization of the company.
  • A statement signed by Laolu Akande, Senior Special Assistant to the President on Media and Publicity, said that after deliberating on the matter, the Council approved the outstanding severance rights to be disbursed to former employees.

Update on Power Plants: In an unrelated development, the Council also received an update on the development of a 1,650-megawatt hydroelectric plant in Makurdi, Benue State, including the inauguration of the Project Steering Committee and the proposed publication on the Expression of Interest for the hiring a transaction advisor for the project.

  • Regarding the update on the concession of the Zungeru Hydroelectric Power Plant, the Board was informed that Requests for Qualification (RFQ) were received from 11 Consortia, of which 3 (NSP Consortium, Mainstream Energy and Africa Plus Partners) were shortlisted to present proposals. for the concession.
  • On the restructuring of the Kano, Benin, Kaduna, Ibadan and Port Harcourt DisCos, the Board was informed that notices of change of directors for all the DisCos had been filed with the Corporate Affairs Committee, while the BPE has issued guidelines to the banks. /lenders for the sale of their 60% interest in the assets.
  • Further updates were received on the sale of five (5) NIPP power plants, including engagements with the Nigerian Governors Forum on the NIPP transaction, and the governors’ resolution to form a committee to review the transaction and return to the Office.

The news continues after this announcement.

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