Secretary to the Government of the Federation Anyim Pius Anyim said yesterday that the federal government would in two weeks conclude the privatization and handing over the nation’s power sector to private firms for management.
Anyim, who was speaking to newsmen in Lagos on the proposed Nigeria’s centenary celebration said the federal government is on the final stage of the agreement with the new owners and that they at the concluding stage and would formally hand over the generation and distribution companies to the new investors.
“The hand-over will be done in two weeks and we expect to see stable power supply soon,” he said.
The Bureau for Public Enterprises (BPE) said last year that it received of $335.85 million from 16 preferred bidders for both distribution and generation companies.
The preferred bidders for the Discos submitted bank guarantees worth about $188.48 million, while the preferred bidders for the Gencos submitted bank guarantees of about $147.38 million.
The breakdown of the guarantees is as follows:
Discos include; Abuja Disco: Kann Consortium Utility Company Ltd - $24,600,000.00; Benin Disco: Vigeo Power Consortium - $19,350,000.00; Eko Disco: West Power and Gas - $20,250,000.00; Enugu Disco: Interstate Electrics Ltd - $18,900,000.00; Ibadan Disco: Integrated Energy Distribution and Marketing Ltd - $25,350,000.00; Ikeja Disco: NEDC/KEPCO Consortium - $19,650,000.00; Jos Disco: Aura Energy Ltd - $12,300,000.00; Kano Disco: Sahelian Power Ltd -$20,550,000.00; Port Harcourt Disco: 4Power Consortium - $18,636,306.00; and Yola Disco: Integrated Energy Distribution and Marketing Ltd - $8,890,000.00.
GENCOs are Shiroro Hydro Power Plc: North-South Power Ltd - $16,748,180.00; Kainji Hydro Power Plc: Mainstream Energy Solutions - $35,680,500; Sapele Power Plc: CMEC/EURAFRIC Energy Ltd - $30,150,000.00; Geregu Power Plc: Amperion Power Distribution Limited - $19,800,000.15; Ughelli Power Plc: Transcorp/Woodrock/Sumbion/Medea/PSL/ Thomassen -$45,000,000.00

Sincere 9gerian: I wish they could hand them over today. I have seen govts come and go but the govt of GEJ, in my opinion, is God sent. I am SO EXCITED about privatization of PHCN.

berem: Till the day i see 18hours uninterrupted electricity in my house,i refuse to believe anything.

tomakint:
Trust me babygurl, stable power supply will soon be a thing of the past in this country in this year(mark my words)! You can see the figures and the consortium of companies given the jobs clearly stated! Tell me how many of our past governments are this transparent in the Power Sector!

subterfuge: Story tellers again!!!!
Tell Anyim pius to give us our PREPAID meters please!!!
Criminals they are and they have all sorts of storeys to deceive us that they really mean well for poor nigerians when in actual fact, PHCN has refused to distribute the prepaid meters to nigerians. Because PHCN is remitting huge cash to the presidency

Tolexander: to me, the privitization seems to be rubbish. Cos there is no difference between the would be PHCN and the new handlers cos it is just a another way to sell the Nigerian masses to the rich men(highest bidders and political allies to the goverment) .
What is the essence of privatization with no competition? An area given to the extortor to monopolize its power and start to squeeze the area's scrotum as he likes.
We want the telecommunication type of privatization.

taharqa: Plz, always learn to keep yr mouth SHUT if you do not know what you are talking about. Its actuali a Virtue..

berem: Till the day i see 18hours uninterrupted electricity in my house,i refuse to believe anything.