Nigerian govt shortlists 16 firms for power privatisation
The Nigerian government has shortlisted 16 firms for the privatisation of five National Integrated Power Projects (NIPPs) in the country, days after it announced the restructuring of five electricity distribution companies.
The listed companies are Mota-Engil Nig, Amperion Power, Sifax Energy, Pacific Energy Company Ltd and Globeleq Africa Limited, Geoplex Drillteq Limited, Asfalizo Acquisition Ltd, Launderhill PJB, Lauderhill Tata, Unicorn Power Genco Ltd, Connaught Energy Services Ltd.
Others are ENL Consortium Ltd, Ardova Plc, Central Electric and Utilities Ltd, North South Power Consortium and Quantum Megawatt Consortium.
A statement on Friday said the director-general of the Bureau of Public Enterprises (BPE), Alex Okoh, said this at the Investor Pre-bid Conference.
The five NIPP plants affected are Geregu, Omotosho, Olorunsogo, Calabar and Benin-Ihovbor.
Bidding Process
On May 6, 2021, the bureau called for Expressions of Interest (EOI) from prospective investors for the sale of the 5 NIPP Power Plants, with a submission deadline of Wednesday, June 30, 2021.
At the expiration of the deadline for the submission of EOIs, it said 36 EOIs were duly submitted from prospective investors.
The closure for the receipt of the EOIs was witnessed by the representatives of the State Security Services (SSS) as well as the Anti-corruption and Transparency/Servicom Unit (ACTSU) of the bureau.
In April 2021, the National Council on Privatisation (NCP) approved the adoption of a fast-track strategy for the privatisation of the five NIPP Plants
The council also approved the engagement of CPCS Consortium as the Technical Adviser (TA) for the 100 per cent sale of the 5 NIPP Plants, in line with the policy of divesting government shares from thermal generating plants.
Mr Okoh added that the interest shown by bidders and the opening up of the generation aspect of the power sector confirmed the vast opportunities abound in the sector.
He said the bureau and other relevant stakeholders were committed to making the sector very sustainable. He added that the objectives of the pre-bid conference were to address possible questions from the prequalified bidders with regards to the transactions and provide clarity on some issues in the Transaction Documents as may be necessary.
The forum highlighted the potential in the Nigerian power sector and provided a platform for potential investors to understand the process for the privatisation of the NIPP power plants as well as to enable them to adequately prepare their bid documents.
“This event is a continuation of the Federal Government’s reform of the power sector with the aim of ensuring that assets within the sector are fully utilized and transformed into world-class facilities, through the injection of private sector capital and deployment of more efficient and technical capacity,” he said.
He addressed fears of potentials buyers of some of the plants which have litigation issues, saying that such litigations were baseless and frivolous as the Bureau and the Niger Delta Power Holding Company (NDPHC) were empowered by the bids’ provisions under NIPPs transaction to terminate bids that violated the ground rules.
Mr Okoh said the power sector remains a viable investment in the country given the low per-capita megawatts recorded in Nigeria.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
The Nigerian government has shortlisted 16 firms for the privatisation of five National Integrated Power Projects (NIPPs) in the country, days after it announced the restructuring of five electricity distribution companies.
The listed companies are Mota-Engil Nig, Amperion Power, Sifax Energy, Pacific Energy Company Ltd and Globeleq Africa Limited, Geoplex Drillteq Limited, Asfalizo Acquisition Ltd, Launderhill PJB, Lauderhill Tata, Unicorn Power Genco Ltd, Connaught Energy Services Ltd.
Others are ENL Consortium Ltd, Ardova Plc, Central Electric and Utilities Ltd, North South Power Consortium and Quantum Megawatt Consortium.
A statement on Friday said the director-general of the Bureau of Public Enterprises (BPE), Alex Okoh, said this at the Investor Pre-bid Conference.
The five NIPP plants affected are Geregu, Omotosho, Olorunsogo, Calabar and Benin-Ihovbor.
Bidding Process
On May 6, 2021, the bureau called for Expressions of Interest (EOI) from prospective investors for the sale of the 5 NIPP Power Plants, with a submission deadline of Wednesday, June 30, 2021.
At the expiration of the deadline for the submission of EOIs, it said 36 EOIs were duly submitted from prospective investors.
The closure for the receipt of the EOIs was witnessed by the representatives of the State Security Services (SSS) as well as the Anti-corruption and Transparency/Servicom Unit (ACTSU) of the bureau.
In April 2021, the National Council on Privatisation (NCP) approved the adoption of a fast-track strategy for the privatisation of the five NIPP Plants
The council also approved the engagement of CPCS Consortium as the Technical Adviser (TA) for the 100 per cent sale of the 5 NIPP Plants, in line with the policy of divesting government shares from thermal generating plants.
Mr Okoh added that the interest shown by bidders and the opening up of the generation aspect of the power sector confirmed the vast opportunities abound in the sector.
He said the bureau and other relevant stakeholders were committed to making the sector very sustainable. He added that the objectives of the pre-bid conference were to address possible questions from the prequalified bidders with regards to the transactions and provide clarity on some issues in the Transaction Documents as may be necessary.
The forum highlighted the potential in the Nigerian power sector and provided a platform for potential investors to understand the process for the privatisation of the NIPP power plants as well as to enable them to adequately prepare their bid documents.
“This event is a continuation of the Federal Government’s reform of the power sector with the aim of ensuring that assets within the sector are fully utilized and transformed into world-class facilities, through the injection of private sector capital and deployment of more efficient and technical capacity,” he said.
He addressed fears of potentials buyers of some of the plants which have litigation issues, saying that such litigations were baseless and frivolous as the Bureau and the Niger Delta Power Holding Company (NDPHC) were empowered by the bids’ provisions under NIPPs transaction to terminate bids that violated the ground rules.
Mr Okoh said the power sector remains a viable investment in the country given the low per-capita megawatts recorded in Nigeria.
Support PREMIUM TIMES’ journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
Donate
TEXT AD: Call Willie – +2348098788999
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.