By David Stephen.
The Bureau of Public Enterprise (BPE) has revealed that about $1.62 billion (roughly 255 billion naira), was placed on five, of the six power generation companies in Nigeria – in bids – to purchase them. Afam Power Plc, Ughelli Power Plc, Geregu Power Plc, Sapele Power Plc, Kainji Power Plc and Shiroro Power Plc, are the six power generation companies in Nigeria, under the umbrella of Power Holding Company of Nigeria Plc. Afam Power Plc was excluded from the list, because bids for it did not pass the 75% required mark, according to the National Council on Privatization (NCP).
Both local and foreign consortium companies have placed bids for these plants. Transcorp & Woodrock/ Symbion/ Medea/ PSL/ Thomassen (Ughelli Power Plc at $300million); CMEC/Eurafric Energy JV (for Sapele Power Plc at $201million); Amperion Power Distribution Company Limited (for Geregu Power Plc at $132million); Mainstream Energy Solutions Limited (for Kainji Power Plc at $50.7million); and North-South Power Company Limited (for Shiroro Power Plc at $23.6million), are bids and are being processed by the NCP, for approval.
Nigeria has been plagued by electricity cuts over the years, but the last few weeks have been better in more areas. The Federal Government has resolved that privatization is the lasting solution, and this is another step close.
