FG set to resell Yola Disco, Afam Power

The Federal Government is set to offer two key power firms, Yola Electricity Distribution Company and Afam Power Plc, for sale to new core investors, investigation has shown.

For the Yola Disco, this will be the second time the government will be selling the firm which covers Borno, Adamawa, Yobe and Taraba States.

It was also learnt that the first core investor in the Yola Disco, Integrated Energy Distribution and Marketing Company, had yet to be paid back the $146.8m it invested for 51 per cent stake in the firm about three years after it exited through the declaration of force majeure.

The Head of Public Communications, BPE, Amina Othman, confirmed that both the Yola Disco and Afam Power Plc were up for sale to new core investors in a telephone interview with PUNCH correspondent in Abuja on Tuesday.

PUNCH, March 9, 2018

 

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