Vice-President Namadi Sambo on Thursday said the preferred bidders for the power generation and distribution companies scheduled for privatisation must pay the 25 per cent of their bid amounts in the next 25 days.
Speaking at the opening of the 13th Session of the Baroness Lynda Chalker-led Honorary International Investment Council in London, Sambo, the payment of the money within the stipulated timeframe would help the government to complete the privatisation of the power firms as scheduled.
He said, “The privatisation of the power sector has reached an advance stage where both the generation and the distribution companies’ successful bidders have already provided all necessary guarantees, and we are expecting that within the next 25 days, the initial deposits of 25 per cent will be paid.
“We are hoping that we will meet the target plan for the privatisation of the power sector in Nigeria successfully.”
The vice-president also assured all stakeholders that contrary to media reports, the power sector privatisation process in the country was on course and that the Federal Government would meet the target...
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