Transactions
PUBLICATIONS
Events

Open Hours of Bpe Gov: Mon – Fri: 8.00 am. – 5.00 pm.

(+234) 0294604401

  • Home
  • About Us
    • Our Team
    • Services
  • Transactions
    • Completed Transactions
    • On-going Transactions
    • Future Transactions
  • Publications
    • Press Release
    • Policies
    • Media
  • News
  • Events
  • FAQ
    • FAQ
    • Main FAQS
  • Contact Us
CONTACT US
  • Home
  • About Us
    • Our Team
    • Services
  • Transactions
    • Completed Transactions
    • On-going Transactions
    • Future Transactions
  • Publications
    • Press Release
    • Policies
    • Media
  • News
  • Events
  • FAQ
    • FAQ
    • Main FAQS
  • Contact Us
CONTACT US
  • Home
  • About Us
    • Our Team
    • Services
  • Transactions
    • Completed Transactions
    • On-going Transactions
    • Future Transactions
  • Publications
    • Press Release
    • Policies
    • Media
  • News
  • Events
  • FAQ
    • FAQ
    • Main FAQS
  • Contact Us
  • Home
  • About Us
    • Our Team
    • Services
  • Transactions
    • Completed Transactions
    • On-going Transactions
    • Future Transactions
  • Publications
    • Press Release
    • Policies
    • Media
  • News
  • Events
  • FAQ
    • FAQ
    • Main FAQS
  • Contact Us
Publications
Home News 36 EOIs Harvested For Five NIPPs Sale
NewsPress ReleaseUncategorized
BPE July 5, 2021

36 EOIs Harvested For Five NIPPs Sale

…As FG Assures Investors Of Plants’ Sale                                               

The Federal Government has assured prospective power  investors that  the five National Integrated Power Plants (NIPPs) put up for sale will go on as planned as the President Muhhamdu Buhari’s administration  is determined to resuscitate the power plants to put them to full use for the much  needed power needs of the people and growth of the nation.

Director General of the Bureau of Public Enterprises (BPE)-the agency superintendenting the privatisation of the five plants, Mr. Alex A. Okoh told reporters in Abuja on Monday, July 5, 2021 that the privatisation of the five NIPP plants was in line with the Bureau’s 2021 workplan as approved by the National Council on Privatisation (NCP) which would be strictly adhered to.

The five NIPP plants are: Benin Generation Company Limited at Ihovba, Edo State, Calabar Generation Company Limited, Cross River State, Geregu Generation Company Limited, Kogi State, Olorunsogo Generation Company Limited, Ogun State and Omotosho Generation Company Limited, Ondo State.

Okoh said based on the approval of the NCP, the Bureau engaged the services of a Technical Adviser and advertised for the Expression of Interest (EOI) in three national dailies (Thisday, Businessday and Daily Trust) on Thursday, May 6th 2021 from which so far, the Bureau has received 36 EOIs as at the close of the advertised period for the preparation of the EOIs.

He added that the Evaluation Committee constituted by the Management of the Bureau, which also includes nominees of the NDPHC, was   trained by the adviser on Tuesday, 29th June, 2021 and commenced work immediately on June 30, 2021 which would soon present its   report to the Management and subsequently to the Technical Committee of the National Council on Privatisation for approval.

Giving the background to the privatisation process of the plants, Okoh said  the initial process was for  the ten  NIPP plants which commenced in 2012 and that  by November 2013 bidders had submitted technical and financials proposals for their privatisation.

“In the Request for Proposal (RfP), the bidders were informed that they would be required to pay the full purchase consideration for the acquisition of 80% equity in the NIPP generation companies”, he stated, adding that an approval was given through the Niger Delta Power Holding Company (NDPHC) in February 2016, to proceed with a phased implementation of the programme by negotiating with the Preferred Bidders of the four (4) NIPP generation companies with the least challenges.

However, the Director General noted that the transaction was eventually stalled largely due to the liquidity challenges in the power sector, amongst other factors but that the   challenges are currently being addressed comprehensively by the Federal Government through various programmes like the Presidential Power Initiative (PPI), the World Bank Distribution Intervention Programme (DISREP), the Ministry of Finance and Central Bank’s interventions in addressing the sector’s payments management as well as the bottlenecks between the Distribution Companies (DISCOs) and the Transmission Company of Nigeria (TCN).

He said with the earlier termination of the NIPP transaction in accordance with the provisions of the RfP, the Bureau after securing the approval of the NCP of its 2021 workplan, subsequently presented a memo to Council at its 2nd meeting for the year 2021 held on Thursday, 22ndApril, 2021 for approval of the transaction as well as an expedited transaction process which Council approved the privatisation of the fiveNIPP Plants.

The Director General further said that the NDPHC on its part had in a letter dated 7th April, 2021, notified the Bureau of the approval at its 45th Board Meeting held on 1st April, 2021 for a joint termination of  the previous (2013)  privatisation process, this also included the approval to commence the re-privatisation of the plants.

 

 Amina Tukur Othman

Head, Public Communications

July 5, 2021.

28
Concession of Kano Free Trade ZoneJune 29, 2021
BPE Investor's Guide 2021July 5, 2021

Related Posts

NewsPress Release

FG Committed to Optimal Performance in Power Supply- Okoh

BPE July 8, 2022
NewsPress Release

BPE To collaborate with Benue State on Economic Reforms

BPE June 2, 2022

Recent Posts

  • Federal Government Secures $500 Million World Bank Loan to Bolster Nigerian Electricity Distribution Sector
  • Inauguration of a Project Delivery Team For The Recapitalization And Full Commercialization of NAIC AND NIRSAL
  • MOFI, BPE Forge Alliance to Optimise FG’s Assets
  • NCP APPROVES RECOMMENDATIONS TO REPOSITION BOA
  • REQUEST FOR PROPOSAL (RFP) FOR THE CONCESSION OF ECO-TOURISM LODGES IN GASHAKA-GUMTI NATIONAL PARK (GGNP) THROUGH SWISS CHALLENGE PROCUREMENT METHOD

Recent Comments

No comments to show.

Archives

Categories

BPE Gov

Follow Us. Keep Updated.

Categories
Recent Posts
No posts were found for display
Gallery


Tags
Corporate Social Responsibility (CSR) TAFAWA BALEWA SQUARE

BPE GOV.
Be a Part of Us

Visit
Bpe logo

Bureau of Public Enterprises

No 11, Osun Street, Maitama Abuja 

(+234) 0294604401

Open Hours of Bpe Gov: Mon - Fri: 8.00 am. - 5.00 pm.

QUICK LINKS

Publications

FAQs

Events

About us

Get in touch

BPE Gov map

Copyright ÂĐ 2024 Bpe.gov.ng by Mking Designs. All Rights Reserved.