Govt May Concession 18 Power Plants, Says BPE
 23rd JAN 2007

The Federal Government concession the 18 power plants created out of the unbundled Power Holding Company of Nigeria (PHCN).

The concessioning scheme is one of the options being considered by the government.

Director General, Bureau of Public Enterprises (BPE) Irene Chigbue, disclosed this yesterday in Abuja.

Chigbue said, in an interview with the News Agency of Nigeria (NAN) that this mode was necessary, as private sector investors who signified interest to buy the plants would be expected to develop their infrastructure in order to provide better services.

``Investment on infrastructure will be one of the conditions for anyone wishing to take over the power plants.

``Investors wishing to buy them must show evidence of resources and capacity to invest on infrastructure'' she said.

She said government would rigorously evaluate investors who indicated interest in buying the plants and ensure they had adequate know how of the industry.

She added that government would ensure that such investors had the resources to invest on and upgrade infrastructure.

Chigbue said that her office had advertised locally and in the international media for investors wishing to buy the plants to come forward and indicate their interest.

``We have given a global notice to the public that those who have interest in buying the plants should come forward and apply,'' she said.

She said the federal government would look at avenues to support the new owners by providing them with viable incentives for effective take-off.

The BPE boss explained that due to its importance and the huge financial requirements needed to revive the power sector, government had sought for World Bank technical support to develop Nigeria's ailing power sector.

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