BPE Hands Over Sold Power Plants June 2014 To Core Investors.

Power stationBy Ewache Ajefu

The expected handover date of the 10 National Power Project (NIPP) power plants, being jointly offered sale by the Bureau of Public Enterprises (BPE) and Niger Delta Power Holding Company (NDPHC), to successful core investors is June 2014, Mr. Benjamin Ezra Dikki, the Director General of BPE, has said.

He made this known at an interactive session with prospective investors in Hong Kong on Thursday.

Dikki emphasized that the deadline the submission of Expressions of Interest (EOIs) remains 19th of July 2013 as contained in the advertisement earlier published in both local and international media, adding that the date will not be extended.

Briefing the investors on other investment opportunities available in Nigeria, the privatisation boss noted that there currently exists a deficit of about 17 million housing units in the country which provides a great opportunity investors. He said the BPE and Federal Ministry of Housing and Urban Development are collaborating with other key government agencies to propose the policies and and regulatory framework that will attract private participation in the .

Dikki added that the general framework of the Federal Government’ Transformation and Reform Agenda is to create a conducive atmosphere for the private to bring in capital to facilitate national development.

In his remarks, the Managing Director of NDPHC, Mr. James Olotu, told the investors that the three tiers of government, who jointly own the shares have approved that the expected proceeds from the 10 power plants be ploughed into the development of more power infrastructure in the country.

He explained that emphasis would be placed on strengthening the transmission infrastructure and the construction of additional three (600-3000mw) hydro power plants.

Recall that the four-city investment road show kicked off in Lagos (4 – 5th June, 2013) before moving to London from 12 – 13th June, 2013. The Hong Kong leg which started on the 19th of June was concluded on the 20th of June and the final leg of the tour moves to New York, which holds on the 26th and 27th of June 2013.

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