Successful bidders in the ongoing privatisation in the power sector have expressed eagerness to take over operations from the Power Holding Company of Nigeria, PHCN Distribution Companies (DISCOs) after the successful payment of 25 per cent of their investment.
However, the Federal Government through Bureau of Public Enterprises, (BPE) and the Secretariat of National Council on Privatisation, (NCP), stated that successful bidders for the DISCOs will commence full operations only after 75 per cent down payment for their investments have been completed.
NCP in a statement stated that core investors are only allowed to take over the companies they have purchased on completion of 100 percent payment of their bid consideration and PHCN successor companies will not be different
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