Investors to take over NDPHC plants by June 2014

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A man walks past electricity pylons as he returns from work in Soweto, outside JohannesburgSuccessful investors will take over the 10 National Integrated Power Plants in June 2014, the Bureau of Public Enterprises has said.

The Director-General, BPE, Mr. Benjamin Dikki, said this to prospective investors at a roadshow in Hong Kong, according to a statement on Thursday by the Head of Public Communication at the privatisation agency, Mr. Chigbo Anichebe.

The sale of the 10 power plants is currently being handled by the BPE and the Niger Delta Power Holding Company, under whose auspices they were built.

Dikki emphasised that the deadline for the submission of Expressions of Interest remained July 19, 2013 as contained in the notice earlier published in both local and international media, adding that the date would not be extended.

Briefing the investors on other investment opportunities available in Nigeria, the BPE boss noted that the deficit of about 17 million housing units in the country provided a great opportunity for investors.

He said the BPE and Federal Ministry of Lands, Housing and Urban Development were collaborating with other key government agencies to propose the right policies and legal and regulatory frameworks that would attract private sector participation in the sector.

Dikki added that the general framework of the Federal Government’s transformation and reform agenda was to create a conducive atmosphere for the private sector to bring in capital to facilitate national development.

In his remarks, the Managing Director, NDPHC, Mr. James Olotu, told the prospective investors that the three tiers of government, who jointly own the 10 power firms, had approved that the expected proceeds from the sale be ploughed back into the development of more power infrastructure in the country.

He explained that emphasis would be placed on strengthening the transmission infrastructure and the construction of additional three hydro power plants.

The BPE and NDPHC had kicked off a four-city investment road show in Lagos on June 4 to shore up investors’ interest in the 10 power plants constructed by the three tiers of government.

 Information from Punch was used in this report.