Business

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Officials of Bureau of Public Enterprises and Niger Delta Power Holding Company embark on Asian, European and North American tours to woo prospective investors to investment opportunities in Nigeria’s power sector

|  By Maureen Chigbo  |  Jul. 1, 2013 @ 01:00 GMT

THE Bureau of Public Enterprises, BPE, is continuing with its road show to attract investment into the power sector. The four-city road show train made up of officials of the BPE and Niger Delta Power Holding Company, landed in Hong Kong on June 19, after a successful outing in Lagos and London on June 4 and June 12, respectively, where the officials had meeting with prospective investors. After Hong Kong, the final leg of the tour will move to New York, from June 26 to 27, where the officials will hold talks with prospective investors..

The BPE told prospective investors that the 10 National Integrated Power Project, NIPP, power plants, being jointly offered for sale by the Bureau of Public Enterprises, and the Niger Delta Power Holding Company, are expected to be handed over to successful core investors by June 2014. Benjamin Ezra Dikki, director-general of BPE, said at an interactive session with prospective investors in Hong Kong on Thursday, June 20, that the deadline for the submission of Expressions of Interest, EOIs, remains July 19, 2013, as contained in the advertisement earlier published in both local and international media. He made it clear that the deadline would not be extended.

Dikki also informed the investors of other investment opportunities available in Nigeria, noting that there currently exists a deficit of about 17 million housing units in the country which project  provides a great opportunity for investors. He said the BPE and the federal ministry of housing and “urban development are collaborating with other key government agencies” to propose the right policies and legal and regulatory framework that would attract private sector participation in the housing scheme. He added that the general framework of the federal government’s transformation and reform agenda is to create a conducive atmosphere for the private sector to bring in capital to facilitate national development.

James Olotu, the managing director of NDPHC, in his remarks, told the investors that the three tiers of government, which jointly own the shares, have approved that the expected proceeds from the 10 power plants 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 of 600 – 3,000 megawatts.

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