Privatization Council Postpones Meeting on DISCOs till September 18
The National Council on Privatization (NCP) postponed the meeting for the shortlisting of preferred bidders for the 11 electricity distribution companies for a second time yesterday.
The Council was unable to meet yesterday due to a high-level security meeting to strategize on rising threat of insecurity in the country after a distasteful film bashing the Islam religion was released by an American pastor over the internet. President Jonathan, northern governors and the vice-President (chairman of the NCP) were all in attendance at the security meeting. Thus the NCP meeting could not hold.
According to the privatization timetable for the power sector, the NCP was supposed to have shortlisted the bidders on September 11th, after it evaluated their technical bids between August 14th and August 28th.
It is unknown how the delays will affect the rest of the privatization timetable, however reports have indicated that the meeting will now hold on September 18th.
Also the Bureau of Public Enterprises has indicated that a thorough due diligence exercise is being carried out at the Corporate Affairs Commission (CAC) to ascertain the ownership of the bidding companies, and in order to verify the technical and financial capacity of the bidders.
The Power Distribution Companies slated for sale include Eko Distribution Company Plc; Benin Distribution Company Plc; Ibadan Distribution Company Plc; Enugu Distribution Company Plc; Port Harcourt Distribution Company Plc; Yola Distribution Company Plc; Jos Distribution Company Plc; Kaduna Distribution Company Plc and Kano Distribution Company Plc.
Among the bidding companies are Vigeo Power, Integrated Energy Distribution & Marketing Limited, Oando, Honeywell, Western Consortium, KEPCO, Ampiron Power Distribution Limited, Interstate Electric Nigeria Limited, Eastern Electric Nigeria Limited, NAHCO Power & Energy, Four Power Consortium, Rockson Engineering, Southern Electric Distribution Company Skipper Nigeria Limited and Sahelian Power SPV Limited.