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JUST IN… Nigerian Govt puts up power generating companies for sale

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The Federal Government of Nigeria has put up the power generating companies in the country for sale.

The federal government of Nigeria through the Bureau of Public Enterprises (BPE) has called on interested individuals to bid for five power generation companies constructed under the National Integrated Power Project (NIPP).

The BPE in a document signed by the Director-General, Alex Okoh, and made available to journalists on Sunday called on investors to bid for the 100 per cent shareholding of the government in any of the companies.

The companies up for sale include Geregu Generation Company Ltd with gross installed capacity at ISO condition of 506 Megawatts (MW) and Benin (Ihovbor) Generation Company Ltd with 507 MW.

Others are Calabar Generation Ltd with 634MW, Omotosho Generation Ltd with 513MW and Olorunsogo Generation Company Ltd with 754MW.

READ ALSO: POWER CRISIS: Manufacturers To Set Up Generating Plant

According to the document, the decision to sell the plants was in continuation of the ongoing reforms in the Nigerian electricity supply industry and consistent with the Nigerian Electric Power Policy and Electric Power Sector Reform (EPSR) Act, 2005.

“The Board of Directors of Niger Delta Power Holding Company (NDPHC) and the National Council on Privatisation had approved the sale of the five companies through a competitive bidding process,” the Statement noted.

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