Secretary to the Government of the Federation Anyim Pius Anyim said yesterday that the federal government would in two weeks conclude the privatization and handing over the nation’s power sector to private firms for management.
Anyim, who was speaking to newsmen in Lagos on the proposed Nigeria’s centenary celebration said the federal government is on the final stage of the agreement with the new owners and that they at the concluding stage and would formally hand over the generation and distribution companies to the new investors.
“The hand-over will be done in two weeks and we expect to see stable power supply soon,” he said.
The Bureau for Public Enterprises (BPE) said last year that it received of $335.85 million from 16 preferred bidders for both distribution and generation companies.
The preferred bidders for the Discos submitted bank guarantees worth about $188.48 million, while the preferred bidders for the Gencos submitted bank guarantees of about $147.38 million.
The breakdown of the guarantees is as follows:
Discos include; Abuja Disco: Kann Consortium Utility Company Ltd - $24,600,000.00; Benin Disco: Vigeo Power Consortium - $19,350,000.00; Eko Disco: West Power and Gas - $20,250,000.00; Enugu Disco: Interstate Electrics Ltd - $18,900,000.00; Ibadan Disco: Integrated Energy Distribution and Marketing Ltd - $25,350,000.00; Ikeja Disco: NEDC/KEPCO Consortium - $19,650,000.00; Jos Disco: Aura Energy Ltd - $12,300,000.00; Kano Disco: Sahelian Power Ltd -$20,550,000.00; Port Harcourt Disco: 4Power Consortium - $18,636,306.00; and Yola Disco: Integrated Energy Distribution and Marketing Ltd - $8,890,000.00.
GENCOs are Shiroro Hydro Power Plc: North-South Power Ltd - $16,748,180.00; Kainji Hydro Power Plc: Mainstream Energy Solutions - $35,680,500; Sapele Power Plc: CMEC/EURAFRIC Energy Ltd - $30,150,000.00; Geregu Power Plc: Amperion Power Distribution Limited - $19,800,000.15; Ughelli Power Plc: Transcorp/Woodrock/Sumbion/Medea/PSL/ Thomassen -$45,000,000.00