PHCN
Chineme Okafor in Abuja

A total of 48 different companies have expressed interests in acquiring the two remaining successor companies hived off the Power Holding Company of Nigeria (PHCN) in a renewed bid to fast track their sales in line with the ongoing privatisation exercise.
Bids for the two PHCN companies - Afam Generation Company and Kaduna Distribution Company - were earlier cancelled following allegations of inconsistencies in the process, especially from Afam, in which former Minister of Power; Prof. Barth Nnaji, was controversially alleged to have vested interest.
THISDAY gathered from a presidential source yesterday that the Bureau of Public Enterprises (BPE) had received interests from 48 companies for the two PHCN successor firms.
The source listed the bidders to include NAHCO Power Consortium, Skipper Nigeria Limited and a consortium involving Israel Electric Corporation as well as JBN-Nestoil Power Services and Marubeni West Africa Power Services.
The companies, he added, had submitted Expression of Interests (EoIs) to the BPE to meet the January 31 deadline issued by the bureau.
The BPE, it was gathered, had subsequently sent Request for Proposals (RFPs) to all the bidders on February 4, in which their respective exact bidding structure and format in relation to the risks and benefits from such sale would be known by BPE.
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