FG puts up power generating companies for sale
The federal government through the Bureau of Public Enterprises (BPE) has announced its decision to sell the five power generation companies constructed under National Integrated Power Project (NIPP).
The BPE in a document signed by the Director-General, Alex Okoh, and made available to the media on Sunday called on investors to bid for the 100 per cent shareholding of the government in any of the companies.
The document said that it was in continuation of the ongoing reforms of the Nigerian Electricity Supply Industry and consistent with the Nigerian Electric Power Policy and Electric Power Sector Reform (EPSR) Act, 2005.
It also said that the Board of Directors of Niger Delta Power Holding Company (NDPHC) and the National Council on Privatisation had approved the sale of the five companies through a competitive bidding process.
It however, did not say how much was expected to be realised from the sales.
The companies constructed under the NIPP are located in Kogi, Edo, Cross River, Ondo and Ogun.
It listed the five in-service generation plants to be Geregu Generation Company Ltd with gross installed capacity at ISO condition of 506 Megawatts (MW) and Benin (Ihovbor) Generation Company Ltd with 507 MW.
Others are Calabar Generation Ltd with 634MW, Omotosho Generation Ltd with 513MW and Olorunsogo Generation Company Ltd with 754MW.
According to the document, prospective investors are expected to submit separate Expressions of Interest (EoI) for each generation company.
“Each bidder must be an experienced power generation company that owns and/or operates utility size power plants.
“In case of a consortium, at least one of the consortium members must be an experienced power generation company (the “Technical Partner”).
“The technical partner shall be responsible for providing operation, maintenance and management services under a long term agreement.”
The BPE had during its 2021 budget defence at the National Assembly, disclosed plans by the federal government to sell some generation companies.
BPE was created through the Public Enterprises (Privatisation and Commercialisation) Act 1999, to diversify the economy and strengthen the private sector as Nigeria’s engine of growth and economic driver.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
North Macedonia nationalist wins first round of presidential poll
The president in North Macedonia primarily has protocol powers.
Health
Nigeria, 15 other countries get $36.5 million to eliminate trachoma
Ms Shu’aibu said the funding was under the organisation’s “Accelerate Programme” to end the disease by 2027.
Agriculture
AfDB, BUK partner on climate adaption, entrepreneurship to boost food security
Ms Dunford stated that agriculture needed to be transformed to provide food security.
Health
Chinese expert recommends Tai Chi treatment for health challenges
“Tai Chi is crucial for older people as it offers numerous benefits.’’
NationWide
Over half of world risk mosquito-borne diseases, say scientists
The UK health security agency said there were 2,004 cases of malaria confirmed in England, Wales and Northern Ireland in 2023.
States
Jonathan inaugurates 1.3km flood-control tunnel in Akwa Ibom
“Your understanding of the needs of your people has been demonstrated in your vision to initiate and complete this project.’’
