• Monday, December 04, 2023
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FG announces short-listed bidders for 10 power plants August


The Federal Government on Wednesday said the short-listed bidders for the purchase of 10 National Integrated Power Projects (NIPP) would be announced on August 8.

This is contained in a statement signed by Chigbo Anichebe, head, public communications of the Bureau of Public Enterprises (BPE), in Abuja.

It said the director-general, BPE, Benjamin Ezra Dikki, said this in a presentation in Hong Kong at a road show jointly organised by the Niger Delta Power Holding Company (NDPHC), and the BPE.

The director general said that besides the power, transport and housing sectors, development finance institutions and the Abuja Security and Commodities Exchange were up for sale.

According to Dikki, local and international investors are all welcome to bid.

He advised prospective bidders to be aware of some of the observed lapses in the previous bid processes.

“They involve bids failing to substantially comply with the Requests for Proposal (RFP), failure to meet the threshold of required tangible net worth, and failure to submit bid bonds”.

He also said such lapses include failure to submit audited accounts and failure to submit bids on time, among others.

He said the intention of the Expressions of Interest (EOI) process for sale of the10 power plants was to improve on the rigorous requirements of the PHCN successor companies’ privatisation transactions.

He said that it was critical that all interested potential investors went through the EOI guideline document.

He told the potential investors that the deadline for the submission of expressions of interest remained July 19, and that the date would not be extended.

Governor of Benue State, Gabriel Suswan, said that power was the bedrock of the development agenda of the current administration in Nigeria.

He said the three tiers of government had invested well over $8 billion (about N1.25 trillion) in building the 10 power plants.