The Federal Government will earn N434 billion in 2021 from its planned sale of the three power plants in Geregu, Omotosho and Calabar.
These was contained in the document presented by the Bureau of Public Enterprises (BPE) during its budget defence before the Senate Committee on Privatisation and Commercialisation.
According to the breakdown, Geregu power plant is billed to be sold for N140.7 billion; Omotosho Power Plant will be sold for N151.4 billion while Calabar plant will be available for sale for N143.4 billion.
The proceeds from the sale of the three power plants, the document stated, would be paid into the coffers of Niger Delta Power Holding Company (NDPHC).
The document further revealed that the concessioning of Moshood Abiola stadium in Abuja and three other stadia by the federal government next year is put at N100 million.
It said concessionaireswould pay the total sum of N836 million for National Arts Theatre and Tafawa Balewa Square both in Lagos, and all the River Basin Development Authorities across the country.
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Further breakdown showed that while the National Arts Theatre would be concessioned for N200 million, Tafawa Balewa Square will go for N436 million while all the River Basin Development Authorities will be concessioned for N200 million.
Also to be concessioned are the National Stadium, Lagos; Moshood Abiola Stadium, Abuja; Jos International Stadium, Jos, and Adokie Amiesiemaka stadium in Port Harcourt for N100 million.
Meanwhile, the BPE has been summoned to appear before the Senator Theodore Orji led Senate Committee on Privatization and Commercialization to explain in detail the planned sales and concession of government-owned properties.
The Committee has also demanded an investigation into the sale of some of the Federal Government’s shares in the Afam and Geregu Power plants to ensure that the country is not short-changed in the transaction.
The Senate Committee has also asked the Director-General of BPE, Alex Okoh to provide members with copies of the agreements, reports and approvals from the National Council on Privatization over the transactions of the Afam and Geregu power plants for review.
