Investors to take over NIPP power plants June 2014

One of Nigeria's NIPP21 June 2013, Abuja – Successful investors will take over the 10 National Integrated Power Plants in June 2014, the Bureau of Public Enterprises, BPE, has said.

Mr. Benjamin Dikki, Director General of the Bureau of Public Enterprises, said disclosed this to prospective investors at Roadshow in Hong Kong, according to a statement on yesterday by Head of Public Communication at the privatisation agency, Mr. Chigbo Anichebe.

The sale of the 10 power plants is currently being handled by the BPE and the Niger Delta Power Holding Company.

Dikki, who briefed the investors on other investment opportunities available in Nigeria, said that the deadline for the submission of Expressions of Interest remained 19th of July 2013 as contained in the advertisement earlier published in both local and international media. He added that the date would not be extended.

The privatisation boss noted that the deficit of about 17 million housing units in the country provides a great opportunity for investors.

He said the BPE and Federal Ministry of Housing and Urban Development were collaborating with other key government agencies to propose the right policies and legal and regulatory frameworks that would attract private sector participation in the sector.

Dikki added that the general framework of the Federal Government’s Transformation and Reform Agenda was to create a conducive atmosphere for the private sector to bring in capital to facilitate national development.

In his remarks, the Managing Director of NDPHC, Mr. James Olotu, told the prospective investors that the three tiers of government who jointly own the shares have approved that the expected proceeds from the 10 power plants be ploughed back into the development of more power infrastructure in the country.

He explained that emphasis would be placed on strengthening the transmission infrastructure and the construction of additional three (600-3000mw) hydro power plants.

The BPE and NDPHC had in Lagos on June 4th kicked off a four-city investment road show to shore up investors’ interest in the 10 power plants constructed by the three tiers of government.

The show moved to London between June 12 and 13 before berthing in Hong Kong between the 19th and 20th of June. The final leg of the tour will move to New York between the 26th and 27th of June.

– The Nation

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