From DENNIS MERNYI, Abuja
The Nigerian Electricity Regulatory Commission (NERC) has given state governments up to December 31, 2012, to submit a detailed valuation of their investments in electricity distribution assets. Speaking at a meeting in Lagos with representatives of Eko Electricity Distribution Company and officials of the Lagos State Government, Dr. Sam Amadi, Chairman/CEO, NERC, said that a framework for the valuation had already been adopted by parties involved.
He said: “In December, a universal valuation was done. All we need to know now is what asset belongs to who.” The National Economic Council had earlier directed NERC to undertake an inventory of all electricity distribution assets associated with local distribution networks. According to statement signed by Maryam Yaya Abubakar, assistant general manager, Media, at the commission, the study was concluded in December 2012. This was done to ascertain the post privatisation structure of the PHCN successor companies.
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