The Federal Government and the 36 state governors have
agreed to sell five power plants under the National Integrated Power Projects
and use the proceeds to fund the 2023 budget.
The agreement is coming after over two years of disputes and
legal tussles regarding the sale of the NIPP plants managed by the Niger Delta
Power Holding Company, NDPH.
The Director General of the Bureau of Public Enterprises,
Alex Okoh, made this disclosure in an interview with journalists.
He also disclosed that the United Bank for Africa, UBA, had
secured a core investor to acquire a 60 per cent stake in Abuja Electricity
Distribution Company, AEDC. At the same time, efforts were ongoing to get
competent investors to repossess the majority shares in the other four Discos
that banks took over.
He added that the Federal Government was trying to
restructure Nigeria’s healthcare delivery after the United Kingdom system and
stated that there had been appreciable progress with the proposed sale of five
NIPP power plants.
Okoh said, “The expectation (of BPE) in the fiscal plan for
2023 is N260bn, and the critical assets we are looking at are the power assets.
Five of the NIPP plants; incidentally, we are reaching some understanding with
the state governors for selling those five power plants.”
According to a report in April 2021, the National Council on
Privatisation okayed the adoption of a fast-track strategy for the
privatisation of the five power plants listed as Geregu, Omotosho, Olorunsogo,
Calabar and Benin-Ihovbor.
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