VP to handover PHCN assests to new owners




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BY SundiataPOST,

Vice President Namadi Sambo will officially hand over physical assets of 14 PHCN Successor to new owners November 1.
This is contained in a issued in Thursday by Bureau of Public Enterprises (BPE).
The signed by the Head of Public Communication of BPE, Mr Chigbo Anichebe said the event would also hold simultaneously at the headquarters of the PHCN Successor across the country.
It, however, said that Sapele Generation (SGC) would not be affected by the exercise since National Council Privatisation  (NCP) has directed its legal committee to undertake a comprehensive legal status of the .
According to the , the decision followed the failure of the preferred bidder to complete payment.
The statement listed the Successor to be handed over and new owners to include: Distribution (KANN Consortium Utility), Benin Distribution (Vigeo Power Consortium).
Others are Eko Distribution (West Power & Gas), Enugu Distribution (Interstate Electrics Ltd) and Ibadan Distribution (Integrated Energy Distribution & Marketing).
Ikeja Distribution Company (NEDC/KEPCO Consortium), Jos Distribution Company (Aura Energy), Kano Distribution Company (Sahelian Power SPV), Port Harcourt Distribution Company (4Power Consortium) and Yola distribution Company (Integrated Energy Distribution &Marketing Ltd).
It also listed  generation companies to include: Shiroro (North-South Power Company), Kainji (Mainstream Energy Solutions), Geregu (Amperion Power Distribution) and Ughelli (Transcorp Ughelli Power).
The statement quoted the Director General of BPE, Mr Benjamin Dikki as saying that the hand over was a culmination of 14 years of effort by the NCP, BPE and other stakeholders.
It recalled that had formally handed over share certificates and licences to the 14 new owners had made 100 per cent payment of bid amount.
The Electric Power Sector Reform Implementation Committee was set up in year 2000 with the mandate to proffer an appropriate legal and regulatory framework for the sector.