Chairman of the Nigeria Electricity Regulatory Council (NERC), Dr. Sam Amadi, has disclosed that many of the preferred bidders for the various facilities of the Power Holding of Nigeria (PHCN) have begun payment for their respective financial bids.
Also, Amadi hinted that some South Korean conglomerates have signified their intentions to invest in the country’s power sector, saying a sum of $30billion is expected to be brought into the sector with a view to generating over 10,000 megawatts into the national grid.
Speaking at an award ceremony organised by a non-governmental organiaation, Light Up Nigeria, in Lagos recently, Amadi said most of the successful bidders had paid at least half of the bid price. According to him, the new owners of PHCN that bought infrastructure in the generation and transmission chains have been striving to meet up with terms of the sales agreement.
“Everything is moving on well with the power sector reforms. I am happy to inform you that most of the preferred bidders who won most of the companies that were recently sold out have started paying up. Many of them have paid up to 50 per cent of the sum contained in their bid,” Amadi told the audience.
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