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[ MAIN ]NEWSPOWER & ENERGY

FG To Make N4.2bn From 7 Power Plants

Yesterday, the Joint Transaction Board comprising the Boards of the National Council on Privatization (NCP) and the Niger Delta Power Holding Company (NDPHC) approved the bidders of 7 out of the 10 NIPP power plants, owned by the Niger Delta Power Holding Company.

Briefing State House correspondents in Abuja after the meeting, Dr. Emmanuel Uduaghan ,Delta State Governor, who announced the result of the successful bidder, said  the Federal Government would generate an optimal sales value of US$4,253,291,777 from the preferred bidders while the least total sales value from the reserved bidders will stand at $4.089billion

According to Uduaghan, the bidding was adjudged by all stakeholders as transparent, saying Vice President Namadi Sambo directed that the sale of the three plants under litigation should be stepped down until the matter is resolved.

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