The federal government has announced the preferred bidders for five state power generation plants as part of its plans to privatize the country's electricity sector.The highest bidders for the electricity distribution companies are due to be announced on October 16."This is a milestone in the power privatisation process," Minister of State for Power, Darius Ishaku, said at a ceremony announcing the winners for generation firms in Abuja."I'm sure each and every one of you would agree the process has been transparent," he told a room of bidding firms.
Making the announcement at a ceremony in Abuja, the Bureau of Public
Enterprises (BPE) revealed that a consortium, which includes Nigerian firm
Transcorp, was the highest bidder for the Ughelli Power company, offering $300
million.
Geregu Power plant was won with a bid
of $132 million by a group which includes Forte Oil, a petrol firm
majority-owned by billionaire oil tycoon Femi Otedola.
Bolanle Onagoruwa, BPE's
Director-General, who gave assurances of the Bureau's commitment to
international best practices the opening of the financial bids for the sale of
five electricity generation companies, said that eight companies bided for the
generation companies located in Geregu, Ughelli, Sapele, Shiroro and Kainji.
The privatisation agency paid two local television stations to transmit the event to bolster public and investors confidence in the privatisation exercise, which had been trailed by controversy.
According to the BPE DG, three bidders; Feniks Electricity, Transcorp and Wood Rock/Symbion Power/Medea/PSL/Thomasen and Amperion Power Distribution
Ltd, were deemed qualified by the NCP for Ughelli Power Plc.
For Sapele Power Plc, CMEC/EURAFRIC Energy and JBN-Nestoil Power Services were the bidders, while Amperion Power Distribution Ltd emerged for Geregu
Power Plc.
The privatisation agency paid two local television stations to transmit the event to bolster public and investors confidence in the privatisation exercise, which had been trailed by controversy.
According to the BPE DG, three bidders; Feniks Electricity, Transcorp and Wood Rock/Symbion Power/Medea/PSL/Thomasen and Amperion Power Distribution
Ltd, were deemed qualified by the NCP for Ughelli Power Plc.
For Sapele Power Plc, CMEC/EURAFRIC Energy and JBN-Nestoil Power Services were the bidders, while Amperion Power Distribution Ltd emerged for Geregu
Power Plc.
Also Mainstream Energy Solutions bidded for the Kainji Power Plc while
North-South Power was listed for Shiroro Power Plc.
On Afam Power Plc, the sixth generation company put up for sale, the privatisation agency said no bidder was technically qualified for thecompany.
The World Bank, U.S Agency for International Development (USAID), Department for International Development (DFID) and African Development Bank (AfDB)
sent observers to the event.
On Afam Power Plc, the sixth generation company put up for sale, the privatisation agency said no bidder was technically qualified for thecompany.
The World Bank, U.S Agency for International Development (USAID), Department for International Development (DFID) and African Development Bank (AfDB)
sent observers to the event.
Also representatives of Economic Financial Crimes Commission and the
Independent Corrupt Practices Commission observed the event.
Source; BusinessDay
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