PHCN firms: Crying governors’ firm cheated – Peterside

Clara Nwachukwu

23 October 2012, Sweetcrude, LAGOS—IT has been alleged, that Southern Electricity Distribution Company, the consortium floated by four state governments, to bid for the Benin Electricity Distribution Company, DISCO, cheated by submitting two bids during the commercial bid opening ceremony.

Also, despite emerging the highest bidder for four of the DISCOs, Integrated Energy Distribution and Marketing Company, promoted by former President Abdulsalami Abubakar, will only have access to two of the companies after passing the stress test or consistency test.

The governors were said to have submitted a “primary bid” and an “alternate bid” for the same Benin DISCO, apparently to give them a better chance of winning the bid, which failed as the two bids fell short of what was presented by Vigeo Power Consortium, which clinched the bid.

Addressing journalists in Lagos, Monday, on the unfolding drama now trailing the bid process, the Chairman, Technical Committee, National Council on Privatisation, Mr. Atedo Peterside, said decision on the governor’s alleged fraud will be decided by the National Council on Privatisation, NCP, before month end, during which it would also announce the bid winners for the respective DISCOs.

About the Author

  • Yesterday, we said Atedo Peterside is not given to flipant submissions. Whoever comes to equity must come with clean hands. Obviously, the governors and the firm they are promoting have some explaining to do.