The federal government has granted approval to three consortia to participate in the financial bids opening for the acquisition of 100 per cent shares in Afam Electricity Generation Company.
A statement by the Head, Public Communications, Bureau of Public Enterprises (BPE) Amina Othman in Abuja said the National Council on Privatisation (NCP) gave the approval after its first meeting in 2019, held on April 12.
The companies were Diamond Stripes Consortium, Transcorp Power Consortium and Unicorn Consortium.
She said the three consortia met the benchmark score of 750 points after evaluation in accordance with the criteria set out in the Requests for Proposal (RfPs).
She said other decisions taken by the council included approval for Quest Electric Nigeria Limited to proceed to the financial bids opening stage for the re-privatisation of the Yola Electricity Distribution Company (YEDC).
It also approved the appointment of Lead Capital Consortium as Financial Adviser for the restructuring, recapitalisation, and partial privatisation of the Bank of Agriculture (BOA).
The council appointed Vesta Healthcare Partners as consultants to carry out diagnostic review of the Nigerian Health Secto.
It delisted Transcorp Hilton Hotel, Abuja from post Privatisation monitoring by the BPE.
Also decided on was the privatisation of the Nigeria Communication Satellite Limited (NIGCOMSAT) through a strategic core investor sale and commencement of the process of listing it in the schedule of the Public Enterprises (Privatisation& Commercialisation) Act 1999.
Othman said the privatisation of Afam Electricity Generation Company, which encapsulates, Adam Power Plc and Afam Three Fast Power Limited, could not be concluded during the first round of the power privatisation in 2013 due to issues stemming from gas supply to the plant.
According to her, it is expected that the successful bidders will be responsible for operating the generation and distribution companies.
She said they would also make the necessary investments to improve the generation and distribution networks and customer service in line with the objectives of the federal government set out in the National Electric Power Policy (NEPP). (NAN)
