NELMCO Saves FG N92 bn on PHCN Liabilities- MD

The Nigerian Electricity Liabilities Management Company, NELMCO on Thursday said it has saved the federal government the total sum of N92 billion through discount solicitation and renegotiation of the Power Holding Company, PHCN Liabilities.

Discount solicitation is the downward renegotiation of value of PHCN liabilities,which NELMCO explained it did to the tune of 30 percent discount in order to save money for the government.

The Managing director of NELMCO, Adebayo Fagbemi, gave this information in Abuja during the presentation of Self Assessment Tool,(SAT)by the Bureau of Public Service Reforms,which is a policy initiative that enables agencies of government understand their strengths and weakness,while using....for further reading, click on https://businessday.ng/energy/power/article/nelmco-saves-fg-n92-bn-on-phcn-liabilities-md/

SOURCE: Businessday Newspaper         Aug 10, 2020.