From ISAAC ANUMIHE, Abuja
Federal Government has acknowledged the privatization of Power Holding Company of Nigeria (PHCN) successor companies as one of the most open and transparent transaction processes in recent history.
Speaking at an investment forum in New York with prospective investors seeking to purchase of 80 per cent equity in the 10 National Integrated Power Project (NIPP) power plants yesterday, Vice President Mohammed Namadi Sambo, who was represented by Governor Gabriel Suswan of Benue State, said all the three tiers of government and the private sector in Nigeria are collaborating in the privatization process of the 10 NIPP power plants being jointly offered for sale by the Bureau of Public Enterprises (BPE) and Niger Delta Power Holding Company (NDPHC) to ensure that same level of transparency is replicated.
He pointed out that the PHCN transaction was a highly transparent process and government has assured investors that the same level of transparency will be replicated.
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