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Sambo meets core investors in PHCN successor firms

By on October 11, 2013

The Chairman, National Council on Privatisation, Vice-President Namadi Sambo, has met with core investors in the successor companies carved out of the Power Holding Company of Nigeria.

A statement  made  available to  our correspondent by the Head, Public  Communications at the Bureau of Public Enterprises, Mr. Chigbo Anichebe, in Abuja on Wednesday, also stated that a committee had been set up to review lending rates to ensure that new firms had access to cheaper financing.

At the meeting, Sambo commended the new core investors as well as the BPE and other agencies of government for their roles in the successful sale of the successor companies.

The vice-president also directed all government agencies that had any outstanding approvals or documents connected to the power transaction to ensure that they were signed and delivered before Friday.

The Minister of Water Resources, Mrs. Sarah Ochekpe, urged the new investors not to relent in their efforts to drive darkness out of Nigeria, adding that the whole country was looking up to them to usher in a new horizon in Nigeria.

The Permanent Secretary, Federal Ministry of Power, Dr. Godknows Igali, told the core investors that the government had set up a committee to review the lending regime in the country in an effort to ensure that they secure working capital at reasonable interest rates.

He noted that the government was also working on incentive regimes to the sector to ameliorate the risks associated with pioneer status.

Igali added that plans were underway to train and retrain sector operators on market rules in readiness for the declaration of the transition electricity market, adding that efforts were being made to ensure stability in gas supply to the generation companies.

The Director-General of BPE, Mr. Benjamin Dikki, expressed the Bureau’s appreciation for the level of political support it received from the highest level in the implementation of the transaction.

 

 

 

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