NIPP sale: FG assures foreign investors of transparency

Namadi-Sambo 128 June 2013, Abuja – Governor of Benue State, Hon. Gabriel Suswam, has assured international investors of a transparent transaction in the ongoing Nigeria’s sale of ten power plants owned by the Niger Delta Power Holding Company Limited under the National Integrated Power Project, NIPP.

Suswam made this statement, when he represented the Vice-President, Namadi Sambo, as chairman at the Hong Kong and New York phases of the Investors’ Forum and Road Shows for the marketing of the NIPP.

In a statement by the governor’s media aide, Dr. Cletus Akwaya, Suswam confirmed that government decided to adopt an open and inclusive stakeholders and investors’ approach in the sales process of the power projects to engender fairness, provide a level-playing field and confidence in the would-be investors and the public.

He further assured the public and all would-be investors of the viability of the reformed power sector and urged all bidders with the capacity to invest in and run the power plants to take advantage of the transparent procedure of the ongoing investment forum.

Dignitaries, stakeholders and representatives of leaders in the power and energy sectors that witnessed the investment forum include the Governor of Gombe State, Alhaji Ibrahim Dankwambo, the Minister of Power, Prof. Chinedu Nebo, Chairmen of the Senate Committees on Power and Privatisation, Ambassador/Consul General of Nigeria to the United States of America, Senator Barnabas Gemade and Chairmen of the House of Representatives Committees on Power and Privatisation respectively.

Others key industry participants at the investment Road Shows included the Chairman Presidential Task Force on Privatisation, members of the National Council on Privatisation of the power as well as the Chief Executive Officers of Niger Delta Power Holding Company Limited, National Electricity Regulatory Commission, NERC, Bureau of Public Enterprises, BPE, Nigeria Bulk Electricity Trading Company, Gas Aggregation Company of Nigeria, Nigeria Gas Company and Transmission Company of Nigeria, TCN.

The transaction adviser, which is the leading consulting firm on Public-Private Partnerships, PPP, for the private sector participation in the power sector is CPCS Transcom International Limited.

Private sector participants at the investment forum are expected to acquire assets of the 10 NIPPs and partner with the federal and state governments in order to bridge the power gap for the sustained economic growth of Nigeria.

– This Day

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