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Nigeria’s President Goodluck Jonathan will, today, hand over certificate of ownership and licences to the new owners of the Power Holding Company of Nigeria 15 successor companies. Mr. Benjamin Dikki, Director-general of the Bureau of Public Enterprises (BPE), explained that  “this handover is a culmination of 14 years of painstaking effort by the National Council on Privatisation (NCP), BPE and other key stakeholders to reform and liberalise the nation’s electricity industry”. A total of $2, 525,824,534 has so far been realised as proceeds from the 14 successor companies scheduled for handover. $1,256,000,000 of the sum came from the distribution companies (DISCOs) while the generation companies (GENCOs) raked in $1, 269,824,534.

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This article was first published on 30th September 2013

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