A Review of the Nigerian Energy Industry

PHCN Privatisation: NCP selects Transcorp, 6 others for financial bid

25 August 2012, Sweetcrude, ABUJA – NIGERIA’s National Council on Privatisation, NCP, has selected seven companies to participate in the financial bids for the five power generation station earmarked for sale under the government privatisation plan for the Power Holding Company of Nigeria, PHCN.

Mr. Atedo Peterside, an NCP member, disclosed this at a press briefing with State House correspondents, Friday, at the end of the council’s meeting chaired by Vice President Namadi Sambo.

He named the seven companies as Transcorp Consortium, Ampiron Power Distribution Limited, Phoenix Electricity, GPN Nestoil Power Services Limited, CMEC Energy, North South Power Company Limited and Mainstream Energy Solution Limited.

He said: “These are the companies that have so far emerged from this process and have attained the pass mark.

“As we get to other companies that are being privatised and other results, we will again tell Nigerians. These companies will be notified, they know the requirement of what they have to put up as regards security before they come for the financial bid opening.

“The financial bid opening is on the 25th of September because we need to give them notice for them to travel here. In accordance with the tradition of BPE and in the spirit of transparency, the financial bid opening will be televised.”

The seven companies announced are bidding for five power plants: Ughelli, Sapele, Geregu, Kainji and Shiroro.

Preferred bidders for Ughelli Power Plant are Phoenix Electricity, Transcorp Consortium and Ampiron Power Distribution Limited, while CMEC Energy and GPN Nestoil Power Services Limited, emerged successful for the Sapele Power Plant.

In this article

Join the Conversation

  • It is gratifying to note that some progress is being made despite efforts to truncate the privatisation process altogether.

  • @ Sweetcrude Reports: is invitation of transcorp that could not managed NITEL that has an existing facilities to bid for PHCN a progress? They compounde NITEL woos and burried it.

  • Esaias Izaya Isibor via Facebook

    What Transcorp are they talking about again? please ooo…forget Transcorp…how have they been able to manage what they bought previously….this is another way to carry out corruption as usual

  • Useless Government, we all know that Τ̲̅ђε̲̣̣̣̥ seller is Τ̲̅ђε̲̣̣̣̥ buyer, selling what belong to Nigerians to themselves, killing Τ̲̅ђε̲̣̣̣̥ masses & enriching their own pocket.