Almost 400 Companies Bid for 10 Nigerian Power Plants

Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--A total of 386 companies are bidding for the purchase of 10 Nigerian national integrated power projects that have been identified for privatization by the government.

In the list are 46 consortia for the Bariam power plant; 44 for Benin; 42 for Omotosho; 41 for Egbema; 37 for Calabar; 36 for Ogwurode; 30 for Olaoje; and 30 for Olorunsogo.

The next stage in the process, according to Benjamin Dikki, the director-general of the Bureau of Public Enterprise, is for the selected groups to be informed and for them to begin site inspections and discussions with stakeholders.

In the power distribution sector, today (Wednesday, August 21) is the deadline for the payment of the remaining 75% of the bid sum by the 14 buyers for the 15 generation and distribution assets of the Power Holding Company of Nigeria (PHCN). Nigeria's national treasury is expected to benefit to the tune of about $2.5 billion from the process, which began in February this year.

The success of the exercise will bring renewed focus on how Nigeria's electricity sector is regulated, as well as on the regulators themselves, reported BusinessDay.

For related information, see April 18, 2013, article - Nigeria Puts 80% of 5,152 Megawatts of 'Installed' Power on Sale.

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