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BPE, NERC to ensure power firms keep agreements

By BusinessNews Staff on February 2, 2014

The Bureau of Public Enterprises has said that it will collaborate with the Nigerian Electricity Regulatory Commission to ensure that the privatised electricity distribution and generation companies comply with the agreements they signed with the Federal Government.

The Director-General, BPE, Mr. Benjamin Dikki, said this at a one-day training on post- privatisation monitoring organised for the workers of the organisation, according to a statement made available to our correspondent in Abuja on Monday.

Dikki charged employees of the BPE to acquaint themselves with the monitoring techniques for the power companies sold to the private sector in order to ensure that the core investors fulfilled the covenants of the transactions.

The BPE boss noted that unlike in the other transactions, the post- privatisation monitoring of the power companies was complex and required an adequate understanding of the issues involved by all workers who would be involved in the process.

He said that the Post Privatisation Monitoring Department of the BPE would not be left alone to monitor the power companies, adding that any employee of the privatisation agency could be sent on a monitoring exercise.

Eighteen electricity firms were carved out of the Power Holding Company of Nigeria as part of the process to reform the electricity industry. These included the Transmission Company of Nigeria, 11 distribution companies based on geographical coverage and six generation companies.

[Punch]

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