President Goodluck Jonathan said the nation would sell off the state-run Power Holding Company of Nigeria and workers at the state-run power company would receive “generous” severance package. In a speech before journalists and the nation’s political elite, Jonathan said the nation would rely on private companies to build new power generation plants relying on the nation’s vast natural gas reserves.
The plans outlined by Jonathan’s government sounded like campaign promises, with a presidential election that could be held as early as January. However, Jonathan has yet to announce whether he’ll run for the office he took over after the May 5 death of elected leader Umaru Yar’Adua. But Jonathan faces a public that remains skeptical of power ever coming to the nation of 150 million people and questions over whether privatization will work. The workers’ union at Nigeria’s state-run power company announced an indefinite strike Wednesday, but called it off Thursday morning.
