Minister of Power, Prof. Chinedu Nebo
•Nebo advises investors to pay up TCN to get $1.6bn from proceeds of NIPPs
Chineme Okafor
•Nebo advises investors to pay up TCN to get $1.6bn from proceeds of NIPPs
Chineme Okafor
The preferred bidders of the 10 distribution companies (Disco) carved out from the unbundling of the Power Holding Company of Nigeria PHCN (PHCN) Tuesday stated that unless the federal government met their conditions they might not be able to pay the outstanding 75 per cent bid price and take over the distribution assets.
The bidders also requested an extension to the payment deadline just about two weeks before the expiration of the deadline set by the National Council on Privatisation (NCP) for the payment of the outstanding balance.
But the Minister of Power, Prof. Chinedu Nebo, has said government would only make realistic adjustments that are consistent with its PHCN privatisation timelines, reminding the bidders that adjustments had initially been made necessitating changes in the deadline for...
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