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Afam Power, Yola DisCo get five bids

Afam Power, Yola Disco get five bids

At the expiration of the deadline set by the Bureau of Public Enterprises, BPE, Five firms successfully submitted financial and technical bids to purchase  51 per cent stake in the Afam Power Plc – an electricity generation company – and Yola Electricity Distribution Company.

This was disclosed by the Head, Public Communications at the BPE, Amina Othman, in a statement in Abuja on Monday.

According to her, Othman the five companies beat the Friday deadline set for the submission of financial and technical proposals.

She said: “A total of five bids were received by the BPE on Friday, March 15, 2019 – being the deadline for the submission of technical and financial proposals for the acquisition of the Yola Electricity Distribution Company and Afam Electricity Generation Company (Afam Power Plc & Afam Three Fast Power Limited) by prospective core-investors.

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“Two firms – Quest Electricity Nigeria Limited and Sandstream Nigeria – submitted proposals to acquire the Yola Disco while DiamondStripes Consortium, Unicorn Power Generation Consortium and Transcorp Power, sought to acquire the Afam Genco.

“Sandstream submission was, however, found to be non-responsive as it failed to include a bank guarantee in line with the requirements in the Requests for Proposal. Accordingly, the representative of the firm took the bid back.”

Alex Okoh, the Director-General of BPE, while speaking on the submission of the bids, assured bidders that the evaluation of their bids would be subjected to the highest level of integrity culminating into the financial bids opening of the successful bidders.

According to him, the Evaluation Committee would meet immediately to discuss and finalise the scoring criteria before commencing the evaluation process which was expected to end on Thursday.

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Timothy Enietan-Matthews

Timothy is a versatile journalist, down to earth with a critical and curious mind.

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