The crucial bid was aired live for transparency

The Bureau of Public Enterprises (BPE) has announced the preferred bidders for five power generation plants as part of its plans to privatise Nigeria’s electricity sector.

Making the announcement at a ceremony in Abuja, the BPE revealed that a consortium, which includes Transcorp, was the highest bidder for the Ughelli Power company, offering $300 million.

Geregu Power plant was won by a bid of $132 million which was made by a group that includes Forte Oil, a petrol firm majority-owned by billionaire oil tycoon Femi Otedola.

Bolanle Onagoruwa, the BPE’s Director-General, who gave assurances of the Bureau’s commitment to international best practices the opening of the financial bids for the sale of five electricity generation companies, said that eight companies bided for the generation companies located in Geregu, Ughelli, Sapele, Shiroro and Kainji.

BPE paid two local television stations to transmit the event live in order to bolster public and investor confidence in the privatisation exercise, which had been trailed by controversy.

According to the BPE DG, three bidders; Feniks Electricity, Transcorp and Wood Rock/Symbion Power/Medea/PSL/Thomasen and Amperion Power Distribution Ltd, were deemed qualified by the NCP for Ughelli Power Plc.

For Sapele Power Plc, CMEC/EURAFRIC Energy and JBN-Nestoil Power Services were the bidders, while Amperion Power Distribution Ltd emerged for Geregu Power Plc. Also Mainstream Energy Solutions bidded for the Kainji Power Plc while North-South Power was listed for Shiroro Power Plc.

On Afam Power Plc, the sixth generation company put up for sale, the privatisation agency said no bidder was technically qualified for the company.

The World Bank, USAID, Britain’s Department for International Development (DFID) and the African Development Bank (AfDB) sent observers to the event which was also observed by representatives of the EFCC and the ICPC.

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