As the PHCN Completes its Privatisation Process, What Are Your Expectations for Electricity Supply in Nigeria?Posted on Tuesday, October 30th, 2012 at 8:19 AM
By Adeola Adeyemo
The National Privatisation Council (NCP) yesterday announced the preferred and reserved bidders for the five generating and eleven distribution companies unbundled from the Power Holding Company of Nigeria (PHCN). This is coming after years of agitation for the privatisation of the electricity company and several months of bidding.
As reported by PM News, Atedo Peterside, Chairman Technical Committee NCP, listed successful bidders of the 11 power generation companies to include Amperion Power Distribution Company Limited with a bid of USD$132,000,000 as the preferred bidder for the core investor sale of 51 per cent shares of Geregu Power Plc; Mainstream Energy Solutions Limited which offered an annual fee of USD$50,760,665.18 and a commencement fee of USD$257,000,000 as the preferred bidder for the concession of Kainji Hydro Power Plc.
Shiroro Hydro Power Plc, went to North-South Power Ltd which offered an annual fee of USD$23,602,484.87 and a commencement fee of USD$111,654,534 as the preferred bidder.
NCP also approved Transcorp/Woodrock/Sumbion/Medea/PSL/ Thomassen with a bid of USD$300,000,000 as the preferred bidder for the core investor sale of 100 per cent shares of Ughelli Power Plc and Amperion Power Distribution Company Limited with a bid of USD$252,000,000 is the reserve bidder for the core investor sale of 100 per cent shares of Ughelli Power Plc.
He went on to mention the names of all the preferred bidders for the five generating and eleven distribution companies. While this has been described as a welcome development by many, the question on everyone’s lips is – will this ensure improved electricity supply? Would the privatisation bring about the much needed change in the power sector?
Nigeria is long overdue for the supply of uninterrupted electricity and its citizens are very expectant. As the PHCN completes its privatisation process, what are your expectations for electricity supply in Nigeria?
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