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FG starts physical handover of power plants by November – Igali

By on September 27, 2013

The Federal Government on Thursday announced plans to start physical hand-over of the successor companies of the Power Holding Company of Nigeria (PHCN) to the new owners by November.

Dr Godknows Igali, the Permanent Secretary of the Ministry of Power, disclosed this to State House correspondents, after a meeting with Vice President Namadi Sambo at the Presidential Villa.

The National Council on Privatisation (NCP) last week ratified the sale of the 10 DISCOs and four of the five GENCOs to preferred bidders which made full payments for the assets.

The council had said that it did not ratify the sale of Sapele GENCO because the preferred bidder did not pay in full for the asset, reports News Agency of Nigeria.