The agreement was signed by the Director General of the Bureau of Public Enterprises (BPE), Ms. Bolanle Onagoruwa and the Managing Director of the Canadian firm, Mr. Lorne Halpenny at the BPE headquarters in Abuja.
The event was witnessed by the Minister of Power, Prof. Barth Nnaji, Chairman, Senate Committee on Privatisation, Gbenga Obadara, Deputy High Commissioner of Canada to Nigeria, Jean Gouthier and other stakeholders in the power sector.
Speaking at the signing in ceremony, the BPE boss said the occasion was underscored by the fact that TCN is one of the successor companies created from the unbundling of the Power Holding Company of Nigeria (PHCN) which combines the functions of a transmission services provider, a system and market operator, all of which she added are central to the sustainability and development of the electricity sector.
She added that the management contract which is for only three years is designed to stabilise the grid, reduce electricity losses during transmission, provide for the achievement of certain predetermined targets that would improve grid security and general performance and culture change and staff re-orientation.
Other issues to be addressed also include reward and penalty clauses as incentives for success, provide efficient management of government investments, ensure adequate and equitable generation dispatch according to as fair merit order based on sound regulatory principles.
Also to ensure fair market settlements between electricity traders and provide for skills and expertise transfer to Nigerian counterparts who will serve in deputy and other positions to the management staff of the management contractors.
In his address, the Power Minister, Berth Nnaji allay the fears of the PHCN staff when he said none of them would be sacked, but would be trained on the job.
"Manitoba Hydro International is coming with only eight staff while the entire employees including the top management of the TCN would stay on as deputies. Over 1000 engineers, technologists, technicians would be employed to add to the existing TCN staff and I want to assure the PHCN staff that none of them would be sacked.
The Minister of Power while noting that measures are still being put in place to ensure improved power supply and distribution said, "Manitoba Hydro have played a vital role in power transmission internationally. If we do things right, Transmission Company of Nigeria can become Transmission Company of Nigeria International, that is something we should look forward to and aim at, we must make progress and nobody should try to stop this development."
The minister also enjoined the senior staffs who will be affected by the transfer process to support and contribute to the development of the power sector in general.
The Managing Director of Manitoba Hydro, Mr. Lorne Halpenny in company of the representative of High Commission of Canada Mr Jean Gonthier promised an efficient, effectiveness and an improved power supply in the country.
Manitoba Hydro is a major supplier of electric power and natural gas in the province of Manitoba, Canada. The company presently operates 15 interconnected generating stations. It has more than 527,000 electric power customers and more than 263,000 natural gas customers.
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