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The pro-Jonathan elements also point out that he successfully concluded the privatisation of the Power Holding Company of Nigeria Pic (PHCN), after several setbacks, revitalised agriculture and rebuilt road infrastructure across the country, among other achievements.
He said this at the end of the privatisation process, which ended the existence of the state-owned Power Holding Company of Nigeria (PHCN).
The Kwale-Okpai IPP plant supplies power under a long term contract to the Power Holding Company of Nigeria.
Two main agreements were signed between companies including Royal Dutch Shell, Total, Chevron and Agip with the Nigerian National Petroleum Corporation (NNPC) and the Power Holding Company of Nigeria (PHCN).
This is a direct result of insufficient power generated by the Power Holding Company of Nigeria (PHCN).
Nearly after nine months ago the assets of the defunct Power Holding Company of Nigeria were handed over to private investors, and presently most of the distribution firms are still to introduce effective plans to ensure adequate metering of electricity consumption, thereby facilitating energy theft by consumers and criminal manipulation of bills through exorbitant estimates by their personnel.
The concession for Kainji Hydro Electric, one of the 18 unbundled successor companies of the Power Holding Company of Nigeria, was awarded to Mainstream Energy Solutions under the privatisation process and incorporates the right to design, construct, operate and maintain the two power plants.
The recent privatization of the Power Holding Company of Nigeria successor electricity distribution and generation companies is a testament to the commitment of the FGN to the reform process.