Don't Miss

NCP forecloses deadline extension for NIPP bidders

By on September 20, 2013

The National Council on Privatisation has foreclosed any extension of time for prospective bidders for the power plants constructed under the National Integrated Power Projects.

Although the deadline for the submission of bids for the power plant expired on July 20, the prospective bidders have been clamouring for fresh opportunities to enable them to participate in the sale of the 10 NIPP plants.

The Niger Delta Power Holding Company has also said that the issue of gas shortage can hinder the handover of the NIPP plants to the prospective core investors.

Speaking in Abuja on Wednesday, the Chairman, Technical Committee, NCP, Mr. Atedo Peterside, said the bidders clamouring for the extension of time should forget it.

Peterside spoke at a Transaction Review Conference hosted by the NDPHCN and the Bureau of Public Enterprises.

He said, “Without being disrespectful, every time we are involved in this kind of exercise, there is always a major issue for extension of submission and payment deadlines. So, excuses have always been given.

“The only thing that we think that is certain is when the vendor draws the line in his hand. To those of you who have been able to submit; best of luck. To the rest of you, goodbye.”

Peterside said it appeared that those who refused to meet the deadline did not like the deal, adding that their failure offered better chances to the firms that beat the deadline.

At the expiration of the deadline, the BPE received 110 bids for the power plants owned jointed by the Federal Government, the 36 states of the federation and the Federal Capital Territory.

Apart from the quest for a new window for the submission of fresh bids, some stakeholders at the event canvassed for a review of the timelines in the privatisation schedule, including the extension of the handover date beyond June 2014.

For some of the stakeholders, since the construction of some of the plants have not been completed, there was a need to allow prospective investors more time to be able to conduct their due diligence after the construction of the plants must have been completed.