The Federal Government has started finalising negotiations with the preferred bidders for the successor companies of Power Holding Company of Nigeria, PHCN, as the power sector privatisation programme enters its concluding phase.
The government recently sold controlling equity in six power GENCOS and eight distribution companies, DISCOS to private investors under the privatisation programme being implemented by the Bureau for Public Enterprises, BPE.
The privatisation of two distribution firms is yet to be resolved while the Transmission Company of Nigeria, TCN, has been handed over to a management contractor for an initial period of three years.
The Acting Director- General, BPE, Mr. Benjamin Dikki, said at a prenegotiation meeting with the bidders in Abuja yesterday, that the government is “working assiduously to ensure effective handover of these enterprises.”
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