Investors eye 80% of NIPP equity

One of Nigeria's NIPP28 June 2013, Abuja – Prospective investors have indicated interest in the purchase of 80% equity in the 10 National Integrated Power Project, NIPP, power plants, Vice President Namadi Sambo has said.

Sambo disclosed this at an investment forum in New York on Thursday. He said all the three tiers of the government and the private sector in Nigeria are collaborating in the privatisation process of the 10 NIPP power plants being jointly offered for sale by the Bureau of Public Enterprises, BPE, and Niger Delta Power Holding Company, NDPHC.

This according to him, is to ensure that the same level of transparency in the Power Holding Company of Nigeria, PHCN, privatisation is replicated.

Represented by Governor Gabriel Suswan of Benue State, the Vice President was quoted as saying that the privatisation of the PHCN successor companies is one of the most open and transparent privatisation transaction processes in recent history.

A statement from the BPE Head, Public Communications, Mr. Chigbo Anichebe, said Sambo pointed out that the PHCN transaction, “was a highly transparent process and government has assured investors that the same level of transparency will be replicated”.

The Vice President noted that if Nigeria is going to be among the 20 largest economies in the world by the year 2020, the right steps must be taken, assuring that the administration of President Goodluck Jonathan is committed to ensuring that those right steps are taken going forward in implementing the Transformation Agenda.

He noted that the privatisation of the 10 NIPP power plants is the first time the private sector, the National Assembly, Federal, State and Local governments are joining forces to ensure an all-inclusive transaction process.

Vice President Sambo noted that to engender global interest, all the relevant stakeholders in the sector were in New York to interact with prospective investors and address their questions and concerns.

– The Nation

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