07 September 2017, Sweetcrude, Lagos — The Nigeria Government has approved the commencement of the privatisation exercise of Afam Power plant 1-5.
The approval was given by the National Council on Privatisation, NCP chaired by Vice President Yemi Osinbajo.
When concluded, Afam Power plant is expected to inject additional power into the national grid and improve electricity supply nationwide.
Vice President spokesman, Laolu Akande said the decision to privatise Afam Power plant and other entities were reached during the council’s recent meeting in Abuja.
NCP also approved the immediate commencement of fresh privatisation of Yola Electricity Distribution Company and approved the pursuit of an out-of-court settlement regarding the privatisation of the Aluminium Smelter Company of Nigeria.
“These approvals were aimed at giving traction to key infrastructural facilities in the country that are presently under concession, but have been adjudged to be performing sub-optimally,” Akande said in a statement.