The Discos and Gencos are successor companies that were established after the unbundling of the Power Holding Company of Nigeria in line with the ongoing privatization of the nation’s moribund power sector
The Federal Government on Thursday commenced the process of handing over 10 Distribution Companies and five Generation Companies to the preferred bidders with the formal signing of Sale and Purchase Agreement with them at a well attended ceremony in Abuja.
The Discos and Gencos are successor companies that were established after the unbundling of the Power Holding Company of Nigeria in line with the ongoing privatization of the nation’s moribund power sector.
After the signing, the preferred bidders are expected to make down payment of 25 per cent of the share purchase price within 15 business days and to pay the outstanding balance of 75 per cent after 90 working days.
Speaking, Vice President Namadi Sambo, who chairs the National Council on Privatization, described the event as “important landmark”.
Sambo said it marked several important milestones in the ongoing reform of the Nigeria Electricity Supply Industry.
He expressed delight that the “GENCOS would today be signing Ancillary Agreement with the Transmission Company of Nigeria Plc” to pave way for compensation to providers of services in line with the best practice in the power
The Discos and Gencos are successor companies that were established after the unbundling of the Power Holding Company of Nigeria in line with the ongoing privatization of the nation’s moribund power sector.
After the signing, the preferred bidders are expected to make down payment of 25 per cent of the share purchase price within 15 business days and to pay the outstanding balance of 75 per cent after 90 working days.
Speaking, Vice President Namadi Sambo, who chairs the National Council on Privatization, described the event as “important landmark”.
Sambo said it marked several important milestones in the ongoing reform of the Nigeria Electricity Supply Industry.
He expressed delight that the “GENCOS would today be signing Ancillary Agreement with the Transmission Company of Nigeria Plc” to pave way for compensation to providers of services in line with the best practice in the power
No comments:
Post a Comment