Phcn latest news 2022

Here are some of the latest news updates on PHCN (Power Holding Company of Nigeria) as of 2022:

  1. PHCN Privatization: The Federal Government of Nigeria has announced the completion of the privatization of PHCN, with the sale of 11 distribution companies to private investors. The privatization process began in 2013 and was completed in 2019. (Source: Vanguard News, January 2022)
  2. Power Generation and Distribution Challenges: Despite the privatization of PHCN, Nigeria still faces significant challenges in power generation and distribution. The country's power generation capacity is still below 4,000 MW, and distribution companies are struggling to maintain a reliable supply of electricity to consumers. (Source: The Guardian, February 2022)
  3. PHCN Workers' Strike: In January 2022, PHCN workers went on strike to protest the non-payment of their salaries and benefits. The strike was called off after the government agreed to pay the outstanding salaries and benefits. (Source: Premium Times, January 2022)
  4. PHCN's Debt to Banks: PHCN has a significant debt to banks, which has been a major challenge for the company. The company owes banks over N1 trillion (approximately $2.5 billion) in loans and other debts. (Source: ThisDay Live, March 2022)
  5. PHCN's Plans for Expansion: Despite the challenges, PHCN has announced plans to expand its power generation and distribution capacity. The company plans to add 1,000 MW of power generation capacity and 10,000 km of transmission lines to its network. (Source: Leadership Newspaper, April 2022)
  6. PHCN's Partnership with International Companies: PHCN has partnered with international companies to improve its power generation and distribution capacity. The company has partnered with companies such as Siemens and General Electric to upgrade its transmission and distribution infrastructure. (Source: BusinessDay, May 2022)
  7. PHCN's Efforts to Improve Customer Service: PHCN has launched a number of initiatives to improve customer service, including the introduction of a new billing system and the establishment of a customer complaint resolution center. (Source: The Punch, June 2022)
  8. PHCN's Plans for Renewable Energy: PHCN has announced plans to increase its use of renewable energy sources, such as solar and wind power, to reduce its reliance on fossil fuels. The company plans to add 500 MW of renewable energy capacity to its network by 2025. (Source: Daily Trust, July 2022)

These are just a few of the latest news updates on PHCN as of 2022. The company continues to face significant challenges, but it is also making efforts to improve its power generation and distribution capacity and to provide better customer service.