• Sunday, July 21, 2024
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BPE assures on improved power supply after privatisation

Bureau of Public Enterprises

Benjamin Dikki, director-general, Bureau of Public Enterprises (BPE), has assured Nigerians that the power supply in the country will improve when the private investors take over.

In a statement by Chigbo Anichebe, head, of public communications, BPE, Dikki expressed confidence that the introduction of sound maintenance culture would ensure that the current installed capacity of 6,000 megawatts is exploited and put on the national grid, stressing that alone would stabilise power supply.

The statement said he appealed that the investors be given time to increase capacity as “they (investors) will after take over, re-tool and bring in new machinery like turbines which are not easily bought off the shelf to put power on proper footing”.

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Speaking on NTA Channel 10 programme in Lagos on Saturday, Dikki noted that the investors would need time to re-tool after taking over and between two-three years to bring in the required machinery after which the country would witness increased and steady power supply.

He announced that by October this year, the new investors were expected to fully take over after paying the balance of 75% bid price since they had earlier made the mandatory 25% payment.

The DG said any investor that was unable to pay the 75% bid balance within six months from the date the mandatory 25% bid payment was made, would be penalised. He, however, expressed the confidence that all the investors were serious businessmen who have the required financial muscle to pay the bid price.