The Senior Staff Association and Electricity Allied Company (SSAEAC) has faulted Federal Government’s estimation of assets of the Power Holding Company of Nigeria(PHCN) at N200 billion. The nation says
The union claims the assets are worth over N1.5trillion.
According to the president of the union, Mr Bede Oparah the workers who took to the streets last week to protest government’s non-payment of their gratuity and pension would continue with the protest.
He accused government of cheating the workers saying, “going by the pension reform, their gratuity and pension should be in one jacket”.
The Minister of Power, Prof. Barth Nnaji however said there is no truth in the workers’ allegation as government has concluded negotiation with them.
He said he could not fathom why they are protesting.
However, Oparah said the workers will continue to protest until government pays them their dues.
He said if insists on selling PHCN at N200 billion, it should sell it to the workers because their deducted 25 per cent pension is enough to acquire the assets.
He claimed that the Federal government greatly undervalued the assets because its vehicles, power plants and cable alone are worth more than N200billion.