The federal government yesterday gave out 70 per cent of Egbin power plant in Lagos to a Korean firm, KEPCO, for sale at the rate of $407.3 million.
This is just as Forte Oil, a partner of Amperium consortium, also confirmed that it had paid $33m (local component of N519.12 million inclusive), being 25 per cent down payment for acquiring 51 per cent of Geregu power plant, into the National Council on Privatisation’s (NCP) account.
Chairman of the Technical Committee of NCP Atedo Peterside who gave the hint of the sale of Egbin power plant after a meeting of the council chaired by Vice-president Namadi Sambo at the presidential villa, Abuja, received a confirmation of the 25 per cent payment made by Forte Oil for Geregu power plant from its chief executive officer (CEO), Akin Akinfetiwa, in the presence of State House correspondents.
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