Fast-Track The Sale Of PHCN Non Core Assets, Reps Tell NELMCO

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The House of Representatives has asked the Nigerian Electricity Liability Management Limited (MELMCO) to speed up the sale of the non-core assets of the defunct Power Holding Company of Nigeria.

It said on Thursday that this would stop the loss of revenue by the Federal Government through vandalism and stealing of the assets as scraps.

The House gave the directive in Abuja as members considered and approved the recommendations of its joint Committees on Power and Public Procurement, which investigated the sale of the assets.

 

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The House asked NELMCO to complete the recertification of the title documents relating to the assets.

The recommendations read in part, “That NELMCO should carry out the re-evaluation of the assets with a view to obtaining a true value of the assets.

“Appointment of an auctioneer for the sale of the PHCN scraps and obsolete items of the Abuja Electricity Distribution Company and other distribution companies in Nigeria”.

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About Omobright 302 Articles
A FUTA Alumnus, a geophysicist, a cartographer, a freelance writer and poet. Loves adventure, music, movies, football and food. Hates monotony. Hobbies are reading, writing and travelling. Interested in human, society, academics and power(energy) sector.

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