PHCN stands for Power Holding Company of Nigeria. It is a now-defunct Nigerian government-owned electricity company that was responsible for power generation, distribution, and transmission in the country.
The Power Holding Company of Nigeria was established in 2005 as a result of the merger of the National Electric Power Authority (NEPA) and the Nigerian Electric Power Authority (NEPA). NEPA, the precursor to PHCN, was known for its poor performance and inefficiencies, often plagued by frequent blackouts and inadequate power supply across the country. The creation of PHCN aimed to address these issues and bring about improvements in the electricity sector.
PHCN's main areas of operation were power generation, distribution, and transmission. It operated various power plants across Nigeria to generate electricity from different sources, including hydroelectric, thermal, and gas. The company was responsible for transmitting this power to different distribution companies located in various states of Nigeria, which further distributed it to end consumers.
However, due to persistent challenges, including inadequate infrastructure, technical difficulties, corruption, and operational inefficiencies, PHCN struggled to meet the country's increasing power demands. As a result, the Nigerian government undertook power sector reforms, leading to the unbundling and privatization of PHCN in 2013. Today, PHCN no longer exists as a company, with its functions and assets transferred to successor companies in the power sector reform process.
