THE Bureau of Public Enterprise (BPE) has said that shortlisted bidders for the Niger Delta Power Holding Company (NDPHC) 10 national integrated power plants would be announced on August 8, 2013.
The Director General of BPE, Benjamin Ezra Dikki, disclosed this in a presentation to prospective investors in Hong Kong during a road show jointly organised by the NDPHC and BPE.
According to a statement by BPE’s Head, Communication, Chigbo Anichebe, Dikki stated that the sale of the power plants falls within the context of President Goodluck Jonathan’s Transformation Agenda which, he said, seeks to, among others, create a conducive atmosphere for private capital inflows.
Dikki noted that besides power, the transport and housing sectors, development finance institutions and the Abuja Commodities and Stock Exchange that will introduce the warehouse receipt trading system, there are also great investment opportunities awaiting interested local and international investors.
He said BPE and NDPHC are partners in the transaction for the sale of the 10 power plants, adding that BPE is legally authorised to sell Federal Government’s 47 per cent shares, while NDPHC has the authorisation of the states and local governments to sell 53 per cent of the 80 per cent shares on offer.
Dikki extolled that the BPE will add significant value to the process, using its vast experience in privatisation of assets in Nigeria, spanning nearly 500 transactions in its 25-year history. The most recent, he noted, was the sale of the 15 Power Holding Company of Nigeria (PHCN) successor companies.
He advised prospective bidders to learn from the lapses of those who participated in the previous bid processes. According to him, the lapses include failure of some bids to substantially comply with the Requests for Proposal (RFP), failure to meet the threshold of required tangible net worth, failure to submit bid bonds, failure to submit audited accounts and failure to submit bids on time.
The Director General of BPE, Benjamin Ezra Dikki, disclosed this in a presentation to prospective investors in Hong Kong during a road show jointly organised by the NDPHC and BPE.
According to a statement by BPE’s Head, Communication, Chigbo Anichebe, Dikki stated that the sale of the power plants falls within the context of President Goodluck Jonathan’s Transformation Agenda which, he said, seeks to, among others, create a conducive atmosphere for private capital inflows.
Dikki noted that besides power, the transport and housing sectors, development finance institutions and the Abuja Commodities and Stock Exchange that will introduce the warehouse receipt trading system, there are also great investment opportunities awaiting interested local and international investors.
He said BPE and NDPHC are partners in the transaction for the sale of the 10 power plants, adding that BPE is legally authorised to sell Federal Government’s 47 per cent shares, while NDPHC has the authorisation of the states and local governments to sell 53 per cent of the 80 per cent shares on offer.
Dikki extolled that the BPE will add significant value to the process, using its vast experience in privatisation of assets in Nigeria, spanning nearly 500 transactions in its 25-year history. The most recent, he noted, was the sale of the 15 Power Holding Company of Nigeria (PHCN) successor companies.
He advised prospective bidders to learn from the lapses of those who participated in the previous bid processes. According to him, the lapses include failure of some bids to substantially comply with the Requests for Proposal (RFP), failure to meet the threshold of required tangible net worth, failure to submit bid bonds, failure to submit audited accounts and failure to submit bids on time.
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