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| Minister of power, Professor Chinedu Nebo |
By Oluwagbenga Bankole
The
honorable minister of power, Professor Chinedu Nebo has disclosed that
discussion over the privatisation of the 10 National Integrated Power Plants is
on course.
Nebo who
disclosed this at the ongoing Nigeria Oil and Gas conference in Abuja said that
discussion between federal government and private companies who interested in
acquiring the power plants is in advance stage.
However, TOTALNEWS247 gathered that the National Council on Privatisation (NCP),
through the Niger Delta Power Holding Company (NDPHC), has for the second time
extended the deadline for the completion of the sale of the power assets to
January 2016.
The extension was granted in line with the decisions reached at the NCP and Joint Technical Committee (JTC) meeting for the privatisation of the 10 NIPPs.
Accordingly, NDPHC 10 days ago wrote to the preferred bidders of the power plants informing them of the decision to extend the bank guarantees they had submitted to January 2016.
The sell-off
of the state power firm is expected to raise around $2.5 billion.
According to
experts Nigeria has so far spent $15-$20 billion on NIPP. It is unlikely the
sale of the plants will come close to recouping these funds, which could prompt
wrangling between disgruntled politicians.
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