FG To Announce Shortlisted Bidders For 10 Power Plants In August

FG To Announce Shortlisted Bidders For 10 Power Plants In August

The shortlisted bidders for the purchase of 10 National Integrated Power Project (NIPP) power plants would be announced on August 8, the Federal Government said on Wednesday.

This was contained in a statement signed by Mr Chigbo Anichebe, Head, Public Communications of the Bureau of Public Enterprises (BPE), in Abuja.

The Director-General, BPE, Mr Benjamin Ezra Dikki, was quoted as saying this in a presentation in Hong Kong at a road show jointly organised by the Niger Delta Power Holding Company (NDPHC), and the BPE.

The DG said that besides tpower, transport and housing sectors, development finance institutions and the Abuja Security and Commodities Exchange were up for sale.

According to Dikki, local and international investors are all welcome to bid. He advised prospective bidders to be aware of some of the observed lapses by prospective bidders in the previous bid processes.

''They involve bids failing to substantially comply with the Requests for Proposal (RFP), failure to meet the threshold of required tangible net worth, and failure to submit bid bonds.’’

He said such lapses include failure to submit audited accounts and failure to submit bids on time, among others.

He said the intension of the Expressions of Interest (EOI) process for sale of the10 power plants was to improve on the rigorous requirements of the PHCN successor companies’ privatisation transactions.

He said that it was critical that all interested potential investors went through the EOI guideline document.

He told the potential investors that the deadline for the submission of expressions of interest remained July 19, and that the date would not be extended.

In his view, the Governor of Benue State, Mr Gabriel Suswan, said that power was the bedrock of the development agenda of the current administration in Nigeria.

He said the three tiers of government had invested well over $8 billion (about N1.25trn) in building the 10 power plants.

Suswan noted that with a population of over 160 million, Nigeria is the largest market for investors in Africa and its atmosphere conducive for investments.

The Deputy Chairman, Senate Committee on Power, Sen. Chris Ngige, said the $2.6 billion (about N405.6bn) raised by the privatisation of PHCN Successor Companies, was the largest transaction ever in Africa.

Ngige assured potential investors that their investments were safe in Nigeria and money well spent.

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