Power
Nineteen firms have indicated interest to acquire the Afam Power Company and the Yola Distribution Company, YDC, put up for sale by the federal government of Nigeria.
At the close of the submission of bids for the expression of interest, EOIs, for the two power companies, seven companies submitted bids to buy Afam while 12 submitted for the Yola Disco.
Amina Othman Tukur, head, Public Communications of the Bureau of Public Enterprises, BPE, in a statement shortly after the deadline for the submission of EoIs for the two companies on Tuesday, September 26, said among the companies that bid are renowned players in the power industry.
Tukur said the evaluation Committee earlier set up by the Bureau to scrutinise the bids was immediately after the expiry of the deadline inaugurated by Yunana Jackdell Malo, bureau’s director of Energy, to commence work.
The request for expression of interest in the two companies was published by the BPE in national newspapers on August 16.
It would be recalled that although Yola Distribution Company was successfully privatised and handed over to the core investor in 2013, a force majeure was declared in 2015 by the core investor, citing insecurity in the North-East region of the country.
Following this, the company was duly repossessed by the federal government. The transaction for Afam Power Generation Company on the other hand fell through due to the delay in signing the Gas Supply Agreement, GSAA and the Gas Transportation Agreement, GTA.
In 2017 the National council on Privatisation, NCP, gave approval for a fresh transaction to privatise the two power companies.
– Sept. 27, 2018 @ 18:39 GMT |
Tags: 19 Firms indicate Interest in Afam Power Company YDC
