AFAM Power Plants Privatisation: Federal Government Looks To Inject Additional Power To National Grid

* Overriding national interests key to privatisation approvals – NCP

The National Council on Privatisation (NCP), which is chaired by the Vice President Yemi Osinbajo, SAN, has approved the commencement of the privatisation of Afam Power plants 1-5 to inject additional power into the national grid and improve electricity nationwide.

The Council also approved the pursuit of an out-of-court settlement involving the privatisation of Aluminium Smelter Company of Nigeria (ALSCON).

The move aims to resolve the lingering dispute between the Federal Government, BFIG and United Company RUSAL through the mediation of the Secretariat with the active collaboration of the Federal Ministry of Mines and Steel Development.

The council advised that “the mediation efforts should take a holistic view of the entire sector and the overriding national interests to jumpstart industrial development through the steel sector in arriving at a resolution on the matter.”

At the meeting, under the chairmanship of Prof. Osinbajo, SAN, the council reviewed the proposals presented by its Secretariat, the Bureau of Public Enterprises (BPE) for the reform and restructuring of various sectors of the economy.

Furthermore, the council approved the immediate revocation of the concession of the Lagos International Trade Fair Complex, and the immediate commencement of a fresh privatisation of Yola Electricity Distribution Company.

These approvals, the council noted, were aimed at giving traction to key infrastructure facilities in the country that are presently under concessions, but have been adjudged to be performing sub-optimally.

These decisions were taken during the meeting of the NCP, which is the highest decision making body on policies relating to the privatisation and commercialisation policies of the Federal Government, on August 22 and 23, 2017 at the Presidential Villa, Abuja.

Other key decisions taken by the council include the approval of the amendments to the Work Plan for the conclusion of the transaction involving the concessioning of Terminal “B” Warri Old Port; the restructuring and recapitalisation of Bank of Agriculture.

“The restructuring of the BOA is in alignment with the Government’s desire to make financing options readily available to farmers for an aggressive diversification of the Nigerian economy,” the council stated.

It further stated that it approved the immediate commencement of the reform and commercialisation of the River Basins Development Authorities to revitalise the irrigation and river basin potentials for agricultural purposes.

Similarly, to harness the nation’s untapped tourism potential, the council approved the partial commercialisation of the National Parks using three key national parks as pilot projects.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
Aso Rock, Abuja
4th Sept, 2017

Great move...............

With the current Governments moves and plans, Nigerians are gonna enjoy minimum of 20hrs steady power supply by 2025


I am in the system so I know what I am talking

OK

They should be selling government property to each other.

PHCN they privatised, how market?

..... dis country matter don tire me

Kkk

My VP.......President in the making

Nice

same old story

God will help the country

They should sell Nigeria already

Hmm

Good move. The intention is okay but the too much Nigerian politics may not allow it run well.

Lol.... But this same hypocrites were saying GEJ shouldn't have privatize the power industry?

Mouth action govt

Another opportunity to loot funds

this man should be the president of Nigeria, he has vision...the only reason I"ll vote for APC is if he(osinbanjo) runs for president

PehaKaso:

Let me carry my money go there

Useless country

A country led by Orangutan pple from the North

Tell me how that country wud move forward

But I thought APC listed privatization of power plants as one of the ills of PDP

Ayam not understanding again

Oya see me forming Tiwa Savage.

https://www.youtube.com/watch?v=I9c_piZMvM0

The new fuel subsidy...

Must the elite continue to rape this country?
Tariff is now 34.26 from 22 as at 2014, yet Fashiola continues dishing out money to Discos...for perpetuating darkness.

The "No Pre-paid meter no payment" statement of Osibanjo is not enforceable, try no pay ur estimated bill...na 2019 u go see light.

Why not scrap the National Grid Policy already...that is the only true and honest privatisation policy that will help Nigerian not this charade.

naijalions:
Oya see me forming Tiwa Savage.


https://www.youtube.com/watch?v=I9c_piZMvM0

Is that really you? You have the swag to be a musician

I suggest they should privatizes Nigeria government... foreign investors should come and take over... Buhari is a coward. always old stories

AFONJACOW:
I suggest they should privatizes Nigeria government... foreign investors should come and take over... Buhari is a coward. always old stories

Don't starts your day with Buhari hate speech ...

They must sell off every damn thing