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As the PHCN Completes its Privatisation Process, What Are Your Expectations for Electricity Supply in Nigeria?

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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 NewsAtedo 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?

Photo Credit: Freefoto.com

Adeola Adeyemo is a graduate of Industrial Relations and Personnel Management from University of Lagos. However, her passion is writing and she worked as a reporter with NEXT Newspaper. She believes that anything can be written about; anything can be a story depending on the angle it is seen from and the writer's imagination. When she is not writing news or feature articles, she slips into her fantasies and creates interesting fiction pieces. She blogs at www.deolascope.blogspot.com

4 Comments

  1. NNEKA

    October 30, 2012 at 9:15 am

    Aside from constant power supply, i expect credibility and honesty from the companies who will be taking over. cos right now we were given a bill of N14,000 for the previous month’s consumption. we used to pay about N5,000 which was an estimated bill(our meters are never being read by PHCN). After lodging our complain to one of their ogas, he said they dont read meters anymore because all the staff have been given a target(please when did PHCN become bankers?) so they had to give huge estimated bills. Give us Pre paid Meters, mba. I ask again, are these prepaid meters meant to be given out free or at a cost? I just tire for them. I hope the new team will introduce a system that gives constant electricity at reasonable cost.

    • Jules

      October 30, 2012 at 11:40 am

      lol. that’s all i can do. phcn-targets lol

  2. ami

    October 30, 2012 at 10:43 am

    I pray this will not be another Nitel in the making

  3. skimpy

    October 30, 2012 at 11:07 am

    R we still on this topic? its gotten a bit boring to be honest cos even the phcn offices use generators and buy disel

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