By Ejiofor Alike and Linda Eroke

Two former heads of state, retired Generals Ibrahim Babangida and Abdulsalami Abubakar, as well as former Governor of Lagos State and leader of the Action Congress of Nigeria (ACN), Senator Ahmed Bola Tinubu, are the promoters of some of the bidding consortiums contesting for the 18 companies unbundled from the Power Holding Company of Nigeria (PHCN), THISDAY investigations have revealed.

This is coming as the workers of the ailing power utility giant have called for the re-evaluation of bids for companies slated for privatisation.

Also topping the list of promoters is an oil magnate, Sir Emeka Offor; business mogul, retired Colonel Sani Bello; as well as allies of Vice-President Namadi Sambo.

North South Power Company Limited, which is believed to be promoted by Babangida, passed the technical evaluation for the Shiroro Power Station and would participate in the financial bid stage.

North South Power Company was the only consortium that submitted bids for Shiroro, while Dangote Power and Super Tech belonging to business mogul, Aliko Dangote and Professor Jerry Gana, respectively, submitted late bids and were automatically disqualified.

Integrated Electric Nigeria Limited, promoted by retired General Abubakar as chairman, Mr. Tunde Ayeni and Dr. Shola Ayandele, is contesting with other bidders for Eko, Ibadan and Yola Distribution Companies.

However, the chances of the company’s bids for Eko and Ibadan Discos are slim due to the presence of Oando Gas and Power, Lagos State Government, Tinubu and Honeywell in the contest.

THISDAY learnt that Integrated Electric has however passed the technical evaluation for Yola Disco, which is awaiting the approval of the National Council on Privatisation (NCP).

For Ibadan Disco, Integrated Electric will compete against Western Consortium, promoted by Oando Power and Tinubu. Integrated Electric and Western Consortium are believed to have passed the technical bid stage for Ibadan Distribution Company, which is awaiting NCP’s approval.

Mainstream Energy Solutions Limited, supported by Bello, passed the technical evaluation for Kainji Power Station and is set to participate in the financial bid.

It also submitted a bid for Jebba Power Station but it is not yet clear if any of the bidders for Jebba was successful, as there was no announcement made by the NCP on the status of the technical bids submitted for the hydro power station.

The Oando Consortium, believed to be promoted by Oando Gas and Power, Lagos State Government and Tinubu, is battling with other bidders for Eko and Ikeja Distribution Companies.

Also in the race for Eko and Ikeja Discos are: Ampiron Power Distribution Limitedand Honeywell Consortium, promoted by Mr. Oba Otudeko.

The Lagos State Government, it was gathered, decided to hedge its bets by also submitting a bid alongside the Honeywell Consortium, as it is bent on acquiring a stake in the two Lagos-based distribution assets.

The state government has made it abundantly clear that whoever wins Eko and Ikeja Discos would have to deal with it owing to its massive investment in distribution infrastructure and rural electrification projects over the years.

Meanwhile, Offor’s Interstate Electric Nigeria Limited is slugging it out with several other bidders, which include Eastern Electric Nigeria Limited for Enugu Distribution Company.

THISDAY gathered that there are 30 per cent unalloted shares in the Interstate Electric bid which was submitted to the Bureau of Public Enterprises, fuelling speculation that the shares may have been reserved for investors with the financial muscle to enhance Interstate’s bid for Enugu Disco.

Eastern Electric, on the other hand, is backed by Time Power Global Dynamics, believed to be sponsored by Ernest Azudialu’s Nestoil; Nifex Limited; Aba Power and Geometric Power Limited, which belongs to the former Minister of Power, Prof. Bart Nnaji; and the governments of Abia, Anambra, Enugu and Ebonyi States.

It is believed that the refusal by the Imo State Government to bid under any consortium stemmed from Governor Rochas Okorocha’s close relationship with Offor.

In the case of Port Harcourt Distribution Company, Four Power Consortium, promoted by the governments of Rivers, Cross River, Akwa Ibom, Bayelsa States and other private sector bidders, is contesting against Rockson Engineering, promoted by the owner of Arik Air, Sir Joseph Arumemi-Johnson.

Southern Electric Distribution Company, which submitted bids for Benin Distribution Company, indicated that it has the commitment of the government of Delta State, while Rockson Engineering indicated that it has a similar commitment from the Edo State Government.

A top member of the NCP is believed to be behind Skipper Nigeria Limited, which is bidding for Kaduna Distribution Company against NAHCO Energy and Power Limited.

However, none of these bidders was successful, compelling the BPE to come up with three fresh options, which it intends to submit to NCP, on how to handle the failed bids for Kaduna Disco.

The first option is to re-advertise the company to harvest a new batch of expressions of interest from prospective investors; the second option is to allow those that submitted late technical and financial bids and were rejected by the BPE to submit their bids; while the third is to invite other bidders that lost out at the financial bid stage to submit fresh bids for Kaduna Disco.

Skipper Nigeria Limited is however believed to have passed the technical re-evaluation conducted by a new committee set up by the NCP for Afam Power Station, but is subject to NCP's approval. Skipper had slugged it out with NPG Consortium and Primeniza Energy Limited.

The reconstituted evaluation team comprised officials from the Ministries of Works and Power, Infrastructure Regulatory Concession Commission and Bureau of Public Procurement.

Sahelian Energy, which was pre-qualified for Kano Distribution Company, is promoted by Alhaji Yusuf, a ministerial nominee of Vice-President Sambo, who did not pass the security screening.

However, Kepco Consortium, promoted by Sahara Energy, is still in negotiations with the BPE for the takeover of Egbin Power Station, subject to NCP and the Federal Government's approval.

State governments such as Lagos, the four South-east and four South-south states are believed to have joined various consortiums after they were encouraged by the BPE to submit bids for the distribution assets.

Under the privatisation programme, the state governments are automatically entitled to two per cent but can get a maximum of eight per cent through the bidding consortiums due to their ownership of the right of way in their states and their massive investment in the distribution and rural electrification network.

THISDAY gathered that another reason the states were encouraged to participate in the process stemmed from the difficulty in carving out the distribution network and delineating boundaries in the immediate term, but this could happen in the future as the market structure evolves.

Also, there were concerns that it will be difficult to place a value on the investment by the states in distribution and rural electrification infrastructure, thus necessitating that they bid for the distribution assets through the privatisation process.

Meanwhile, electricity workers under the aegis of the National Union of Electricity Employees (NUEE) have called for the re-evaluation on the grounds that Nnaji’s resignation implied that there might have been some undue influence in the overall management of the privatisation process.

In a letter to Sambo who doubles as the Chairman of NCP, the union also requested the report of the valuation of PHCN which puts the assets and liabilities of the corporation at N200 billion.

It stated that the valuation of a company like PHCN should be transparently done with active participation of all stakeholders.

The letter signed by the General Secretary of the union, Comrade Joe Ajaero, advised that persons who are politically vulnerable should not be allowed to participate in the privatisation exercise.

“To us it is altruism that the undue influence issue might not have been restricted to Afam Power Plant and Enugu Electricity Distribution Zone of PHCN alone, we believe the whole process has been grossly infested by the menace.

“With all sense of patriotism, we demand also for the report of the valuation of PHCN assets and liabilities that actually came up with the current value of PHCN put at N200 billion only.

“The valuation of a company like PHCN should be transparently done with active participation of all stakeholders.

“We believe that this is the only way credibility and transparency would be seen to have returned to the whole privatisation process. This will enhance investors’ confidence and those of the international community,” the union stated.




http://www.thisdaylive.com/articles/ibb-abdulsalami-tinubu-lead-battle-for-phcn-assets/124309/

i Thought the opposition led by a certain TINUBU has been critizing the power road map of the GEJ administration!. Openly they scream that the government is clueless they are not working yet underground they get involved in the transformation agenda of the government!.since they say the government is a failure why are people like tinubu associating with failure?.they should have stayed away from this policy embarked upon by the government they termed as a failure so that those who believe in the hard work of this administartion to tranform this country, can have a Good chance of getting and running this PHCN assets!.I hope he and other haters of this administration dont get these assets so as not to use it as a political tool to sabotage this very well thought out policy concieved and implemented by the so called clueless president.

They are behind major investments and companies in d country. No news about this.

The power minister didn't resign for nothing,he was up against high thieves and traitors who were prepared to blackmail him,if he didn't.

Just like tinubu blackmailed fashola to back him during trial that we all know he was guilty of.

Are u kiddin me? These guys can't have control over PHCN. what will happen? Looting and squandering. Besides they are unconfirmed criminals.

Sentiment aside if they have what it take to manage it to the best and benefit of nigeria they should be given the oppourtunity

They all say GEJ is clueless, yet they scamper to buy privatized PHCN assets. I am worried if these crops of politicians buying over PHCN facilities with fraud money, will get good technical partners to run these companies. All the supporters of Tinubu will soon realize that in Lagos, all they ever work for goes to the Lion of Bourdillon. Dustbin packers, revenue goes through Alpha Beta, you drive on the road, your toll goes through LCC to Tinubu, you turn on that bulb, your meter reads Tinubu, yet he insults my President and call him clueless fisherman. Where is Tunde Bakare sef, its been a while i heard the sermon on the mount.

Omexonomy: Sentiment aside if they have what it take to manage it to the best and benefit of nigeria they should be given the oppourtunity

They don't have what it takes,what they have is the blood monies they stole from innocent nigerians.

If they have what it takes as "leaders",the country wont be in ruins

Look at the mean money bags involved

jmaine: Look at the mean money bags involved

Now I know why NNAJI has to resign, untill these men die or paralyzed, if not Nigeria remain doomed

Wtf. . .so many losers and shady people involved.

It would have been better if more credible people were bidding instead. . .

redsun: The power minister didn't resign for nothing,he was up against high thieves and traitors who were prepared to blackmail him,if he didn't.

Just like tinubu blackmailed fashola to back him during trial that we all know he was guilty of.

Dude, stop this your obsession with Tinubu. Many of you are unaware of the real "Machiavelli" that forced Nnaji out. A Nairalander , I think it was Ndu Chucks, has already identified him with a thread he started. The truth is that GEJ was not strong and non-compromised enough to protect Nnaji from those he was directly talking about when he said Boko Haram has infiltrated every level of his Government. GEJ entertains the destructive enemy-of-progress tantrum of these individuals to 'keep the peace'.

Unknown to most Nigerians is how the Privatisation sell-off, for the reasons some of us have warned about serially, has now been bastardized to become a raw and basic power struggle of the most powerful in the land to control continuous creation of wealth when all focus should be on the purist approach of involving only those with the history and capacity to deliver the solutions required for the greater good of society. Nnaji genuinely tried to do that but left himself vulnerable with a procedural mistakes enemies of progress capitalised on when things reached the "business end".

The same thing that happened in the fuel subsidy sector is happening now. You will all see in the end that GEJ, because of innate weakness and susceptibility to blackmail, cannot supervise the purity of processes that will transform Nigeria. I have no source for any of you.

Nnaji was removed because a very highly placed Nigerian politician , currently in one of the highest offices in the land, wanted to position himself optimally to ensure his cronies and minions record the highest gains in the ongoing power concessions - and he has succeeded so far.

Nairalanders can believe me or not. Some of you should even hurl the usual insults. I really don't care. Issues will become clear soon enough. You are all being deceived, as usual, with a set of names that have nothing to do with the knife originally plunged into Nnaji's back. They are very good at making Nigerians hate the wrong folks. IBB, Abdulsalam or Tinubu did not sabotage Nnaji. The truth always emerges in the end.

Let them bring back their loot and invest here, when the coys are up running well they wil be forced to sell it and covert to PLC.

But I am sure they will not come to Bid for the ones in SE / SS, thats suicidal .

Tinubu associating with who u constantly tag as a failure. Ode oshi

Should this qualify as good or bad news? It's sad how some people do all they can to rubbish the efforts and accomplishment of this administration but are only too eager to grab a piece of the sweet juicy PHCN pie.

Now how do we reconcile criticizing a Government for being an abysmal failure but doing all you can to acquire assets the same government is putting up for privatization? Some people just talk for talking sake. Politicians all they care about is their selfish interests.

1ohakah: Are u kiddin me? These guys can't have control over PHCN. what will happen? Looting and squandering. Besides they are unconfirmed criminals.

guy talks the true, edit the unconfirmed and add original confirmed

There is nothing in principle wrong with them submitting bids. The government just needs to ensure that it sells to the highest (qualified) bidder, rather than pre-selecting certain cronies.

CHESSBOARD:

Now I know why NNAJI has to resign, untill these men die or paralyzed, if not Nigeria remain doomed

The people involved are scary to say the least . . . .

Guess it's time to re-invest their loot on Nigeria soil . . . . . but damn !!!

Abujafood:
Now how do we reconcile criticizing a Government for being an abysmal failure but doing all you can to acquire assets the same government is putting up for privatization? Some people just talk for talking sake. Politicians all they care about is their selfish interests.

How does A relate to B?

That I think government has done a poor job of managing is all the more reason to try to do a better job myself.

jmaine: Look at the mean money bags involved

so fuccking what?why don't you go bid for one if you got the cash! All I want is a 24hr uninterrupted power supply! if this will solve the power problem is nigeria so be it!

Gbawe:

Dude, stop this your obsession with Tinubu. Many of you are unaware of the real "Machiavelli" that forced Nnaji out. A Nairalander , I think it was Ndu Chucks, has already identified him with a thread he started. The truth is that GEJ was not strong and non-compromised enough to protect Nnaji from those he was directly talking about when he said Boko Haram has infiltrated every level of his Government. GEJ entertains the destructive enemy-of-progress tantrum of these individuals to 'keep the peace'.

Unknown to most Nigerians is how the Privatisation sell-off, for the reasons some of us have warned about serially, has now been bastardized to become a raw and basic power struggle of the most powerful in the land to control continuous creation of wealth when all focus should be on the purist approach of involving only those with the history and capacity to deliver the solutions required for the greater good of society. Nnaji genuinely tried to do that but left himself vulnerable with a procedural mistakes enemies of progress capitalised on when things reached the "business end".

The same thing that happened in the fuel subsidy sector is happening now. You will all see in the end that GEJ, because of innate weakness and susceptibility to blackmail, cannot supervise the purity of processes that will transform Nigeria. I have no source for any of you.

Nnaji was removed because a very highly placed Nigerian politician , currently in one of the highest offices in the land, wanted to position himself optimally to ensure his cronies and minions record the highest gains in the ongoing power concessions - and he has succeeded so far.

Nairalanders can believe me or not. Some of you should even hurl the usual insults. I really don't care. Issues will become clear soon enough. You are all being deceived, as usual, with a set of names that have nothing to do with the knife originally plunged into Nnaji's back. They are very good at making Nigerians hate the wrong folks. IBB, Abdulsalam or Tinubu did not sabotage Nnaji. The truth always emerges in the end.

Sometimes I wonder how you think,must all ur submissions end with dragging GEJ's name tothe mud always? Why don't you ever see anything good about the president. Must u always be a pessimist??

ekt_bear: There is nothing in principle wrong with them submitting bids. The government just needs to ensure that it sells to the highest (qualified) bidder, rather than pre-selecting certain cronies.

Brilliant. You see process above pettiness. Everything that happened to Nnaji is about the part in bold. We will see this soon unravelling.

I think that states should not be allowed to participate in the process. If the Federal Government could not manage the assets, I don't think the state governments can do any different. These assets should be sold to companies that have the technical and financial competence to deliver steady power to Nigerians.
I also think two assets that reside within the same state (eg Eko and Ikeja DisCos)should be sold to different companies to discourage monopoly and allow for competition.

just my thoughts

Lalaska: I think that states should not be allowed to participate in the process. If the Federal Government could not manage the assets, I don't think the state governments can do any different. These assets should be sold to companies that have the technical and financial competence to deliver steady power to Nigerians.
I also think two assets that reside within the same state (eg Eko and Ikeja DisCos)should be sold to different companies to discourage monopoly and allow for competition.

just my thoughts

States bidding on discos is perfectly legitimate. That the FG failed to manage an asset doesn't imply that the state government will also fail...it isn't as if the incentives for both organizations are exactly the same.

Moreover, discos are inherently monopolies...there isn't any competition on that end. If you are unhappy with your supplier, it isn't as if somebody else will wire you up to their network.

ifihearam:

Sometimes I wonder how you think,must all ur submissions end with dragging GEJ's name tothe mud always? Why don't you ever see anything good about the president. Must u always be a pessimist??

Okay, I am pessimist. You will see and appreciate why very soon. If you have noticed, I take people on , one on one, far less these days on NL because I realise it is a worthless approach given that many argue from a position of extreme ignorance. Your thinking is carefully contrived for you and you don't realise this because you basically believe those you support are 'innocent' and good without understanding what is really going on.

Nnaji was on the right path and forced out by the usual desperate enemies of progress who always do what they have to do to snatch defeat from the jaws of victory. Believe what you want and call me anything you want.

Dig up my utterances on Nnaji to note I have always rated his ability but predicted he will be forced out by insincerity and "pseudo privatisation" at the critical moment.

If you like sell PHCN to anybody.
All I want is electricity.

CHESSBOARD: But I am sure they will not come to Bid for the ones in SE / SS, thats suicidal .

I hope they don't. We must not put our existence in hands of outsiders.

berem: so fuccking what?why don't you go bid for one if you got the cash! All I want is a 24hr uninterrupted power supply! if this will solve the power problem is nigeria so be it!

Okay ma . . . . So i take it that you fully endorse this development

But woe betide you if i see any of your nonsense else where castigating this process unfairly

On this thread . .we are good even though . . . . . . . .

nigeria is owned and managed by the same group of people. the recircle the system and are always available in all spheres of our lives! so sad

Even though some of these guys mentioned above looted our monies but ,investing it in power sector which will eventually giv us constant light is a welcome development. The last time i checked, none them was indicted of any misapropriation of public fund. Investing the so called ill gotten wealth in nigeria to me is a way of giving back to the society. Of course i prefer them to indian investors...

Nigeria wuld b better off, witout ds people.