http://www.theguardianmobile.com/readNewsItem1.php?nid=18937


COME tomorrow, the Vice President and Chairman, National Council on Privatisation (NCP), Mohammed Namadi Sambo, will formally hand over the physical assets of all 14 PHCN successor-companies to their new owners, the Bureau of Public Enterprises (BPE) said in a statement yesterday.
Signed by the Head of Public Communications, Mr. Joe Anichebe, the statement said the event would take place simultaneously at the headquarters of the successor-companies across the country, where Sambo would be represented by ministers and other top government functionaries.
However, it said the Sapele Generation Company (SGC) would not be involved in the exercise since the NCP has directed its legal committee to undertake a comprehensive legal review of its status following the preferred bidder’s failure to complete payment.
The affected companies are: Abuja Distribution Company (KANN Consortium Utility), Benin Distribution Company (Vigeo Power Consortium), Eko Distribution Company (West Power & Gas), Enugu Distribution Company (Interstate Electrics Ltd) and Ibadan Distribution Company (Integrated Energy Distribution & Marketing Ltd).
Others are Ikeja Distribution Company (NEDC/KEPCO Consortium), Jos Distribution Company (Aura Energy Limited), Kano Distribution Company (Sahelian Power SPV Ltd), Port Harcourt Distribution Company (4Power Consortium) and Yola Distribution Company (Integrated Energy Distribution & Marketing Ltd).
The generation companies are: Shiroro (North-South Power Company), Kainji (Mainstream Energy Solutions Ltd), Geregu (Amperion Power Distribution) and Ughelli (Transcorp Ughelli Power Plc).
Top government functionaries to represent the Vice President at the various handover venues are: the Minister of Power, Prof. Chinedu Nebo (Abuja), Co-ordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala (Ibadan), Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke (Enugu), Minister of Trade & Investment, Mr. Olusegun Aganga (Eko), Minister of Transport, Senator Idris A. Umar (Kainji/Jebba) and Attorney General of the Federation and Minister of Justice, Mr. Mohammed Bello Adoke (Yola).
The others are the Minister of Mines and Steel Development, Mohammed Musa Sada (Kano), Minister of Information, Labaran Maku (Jos), Minister of Labour, Chief Emeka Wogu (Ughelli) and Minister of State (Works), Bashir Yuguda (Shiroro).
The rest are the BPE Director General, Mr. Benjamin Ezra Dikki (Ikeja and Egbin), Permanent Secretary, Ministry of Power, Dr. Godswill Igali (Port-Harcourt), Chairman, Presidential Taskforce on Power, Beks Dagogo-Jack (Benin) and Group Managing Director of NNPC, Mr. Andrew Yakubu (Geregu).
Dikki noted: “This handover is a culmination of 14 years of painstaking effort by the NCP, BPE and other key stakeholders to reform and liberalize Nigeria’s electricity industry, which began in 1999.”
The Electric Power Sector Reform Implementation Committee (EPIC) was set up in year 2000 with the key mandate to proffer an appropriate legal and regulatory framework for the sector. This gave birth to the National Electric Power Policy, which was approved by the Federal Executive Council in September 2001.
It was followed by the passage of the Electric Power Sector Reform Act of 2005. The passage of the Act gave the NCP/BPE the legal impetus to set up the Nigerian Electricity Regulatory Commission (NERC), also in 2005.
The NCP/BPE went further to vertically unbundle the integrated monopoly into three segments of Generation, Transmission and Distribution. As part of the reform initiative, the utility was transformed into Power Holding Company of Nigeria (PHCN) in compliance with Section 1 of EPSR Act of 2005, as prelude to the full unbundling of the utility into different successor companies
So far, from the 14 successor-companies scheduled for take over, a total of $2,525,824,534 was realized as proceeds. Of this amount, $1,256,000,000.00 came from the Distribution Companies (DISCOs) while the Generation Companies (GENCOs) raked in $1, 269,824,534.
The Federal Government has equally set aside the entire proceed of N384 billion from the transaction to settle labour liabilities.
Meanwhile, in its determination to resolve all labour issues before the handover, the BPE has dispatched a team of consultants and its staff for the biometric data capture of 1, 478 employees of the Enugu DISCO, who could not be audited because of virus attack on the system where their names were stored.

http://www.theguardianmobile.com/readNewsItem1.php?nid=18937

Let there be light and...

Jeel: Let there be light and...

....there was light

Jeel: Let there be light and...

there was privatization

Eze Promoe:
there was privatization

Will this finally work?

Up NEPA.....

no one has ever done it ...as gej did it..,.and mind u in just 2 years

Eze Promoe:
You dey ask me

Donxavier:

Will this finally work?

With every modality that have been put in place,it should definitely work..but this is naija where it is not over until it is over

What surprised me was at the tail end of the wonderful report. 2nd †̥☺ last paragraph. The proceed from this sale NGN 384B (about $2.5B) is tbe used in settling the pay-offs for the PHCN workforce.
In essence there is № saving †̥☺ be used †̥☺ build an industrial area or a critical landmark legacy infrastructure that generations can use †̥☺ rembr.
So the collective property of 150+ Million people can be sold and d proceeds used †̥☺ pay 0.1% of Nigerians!!

opalu: What surprised me was at the tail end of the wonderful report. 2nd †̥☺ last paragraph. The proceed from this sale NGN 384B (about $2.5B) is tbe used in settling the pay-offs for the PHCN workforce.
In essence there is № saving †̥☺ be used †̥☺ build an industrial area or a critical landmark legacy infrastructure that generations can use †̥☺ rembr.
So the collective property of 150+ Million people can be sold and d proceeds used †̥☺ pay 0.1% of Nigerians!!

What are you sayin

Can someone pls explain how this is better than leaving PHCN the way it was? All I see is Ibadan this, Eko that, Jos warev. Those that mean that staying in Ibadan means I am stucked with Ibadan distribution company or whatever the name is alone? If yes then where is the competition to force them to be better? They'll just inherit the old PHCN scam and get richer as well.

lincolnj88: no one has ever done it ...as gej did it..,.and mind u in just 2 years

Get out ....... praise and worship idiot. Do you think if someone didn't lay a foundation someone like Jeg would able to put even a brick together?

Eze Promoe:
You dey ask me

Before nko or do i see anyone else?

what do you think about the whole process?

awodman:
With every modality that have been put in place,it should definitely work..but this is naija where it is not over until it is over

But the whole thing seems all over the place, no clear structural framework on how this thing works

Donxavier:

But the whole thing seems all over the place, no clear structural framework on how this thing works

To understand the power sector reforms better..check this link
www.nbet.com.ng/114/resources
Then search for "power sector roadmap summary"

awodman:
To understand the power sector reforms better..check this link
www.nbet.com.ng/114/resources
Then search for "power sector roadmap summary"

I have gone thru it. It seems detailed enough.... Guess am just finding hard to believe it will work here. I still don't think there is enough political will to make it work.

chymystique:


What are you sayin

Re-read it when you are in a normal mood

olaezebala: Can someone pls explain how this is better than leaving PHCN the way it was? All I see is Ibadan this, Eko that, Jos warev. Those that mean that staying in Ibadan means I am stucked with Ibadan distribution company or whatever the name is alone? If yes then where is the competition to force them to be better? They'll just inherit the old PHCN scam and get richer as well.

I get your point. This new privatization only succeeded in creating 'Territorial Monopoly'. That is the National Monopoly held by NEPA has been distributed †̥☺ the suCcessor Gencos and Discos. So we under Ikeja Disco as ♏Ɣ house is are stuck with the buyer. We don't have any option. When a company knows consumers/customers don't have option, they relax and become lazy. ♏Ɣ office under Eko Disco will elther comply with the new owner or we use our generators forever (?)
What should have been done ideally is †̥☺ have for instance 2 or more strong competitors in each area. We only hope most of these Buyers will transform Power in Nigeria.

opalu:

Re-read it when you are in a normal mood

SMH

^^^
U don mara

Donxavier:

Will this finally work?

Let's be optimistic.
It will work.

opalu:

I get your point. This new privatization only succeeded in creating 'Territorial Monopoly'. That is the National Monopoly held by NEPA has been distributed †̥☺ the suCcessor Gencos and Discos. So we under Ikeja Disco as ♏Ɣ house is are stuck with the buyer. We don't have any option. When a company knows consumers/customers don't have option, they relax and become lazy. ♏Ɣ office under Eko Disco will elther comply with the new owner or we use our generators forever (?)
What should have been done ideally is †̥☺ have for instance 2 or more strong competitors in each area. We only hope most of these Buyers will transform Power in Nigeria.

You spoke my mind, whenever people make comparison of PHCN privatization with the telecom sector i just laugh

Hmmmm!
Old wine in new "botus"!

Realdeals:
You spoke my mind, whenever people make comparison of PHCN privatization with the telecom sector i just laugh

I have shouted this so many times that you can't compare PHCN privatization with the telecom sector but people would not listen. Is the privatization a good thing? In theory yes but in practice, we will have to wait and see.
What i believe will happen in the nearest future is people who live in highbrow areas will get light 20-24 hrs.

Donxavier:

I have gone thru it. It seems detailed enough.... Guess am just finding hard to believe it will work here. I still don't think there is enough political will to make it work.

Hehehehehe..so far,so good and it took alot of political will to get to this stage..this is GEJ's joker if he wants to be re-elected come next year,so he aint gonna joke with it..but finally we are still in Nigeria