THE Nigeria Electricity Regulatory Commission (NERC) has submitted the much-awaited valuation report of the Aba Business Unit and Ariaria Business Unit, where a legal tussle looms over a 20-year lease agreement government entered with a private company.
NERC Chairman, Dr. Sam Amadi, confirmed the development in an interview with The Guardian Saturday.
The Guardian last week reported that efforts by the Bureau for Public Enterprises (BPE) to privatise the Enugu Electricity Distribution Company (EEDC) despite a subsisting 20-year lease agreement the government entered with a private concern is brewing fresh concern.
It was learnt that the Federal Government, the defunct National Electric Power Authority (NEPA) and the then Aba Power Limited entered into a lease agreement on April 28, 2005 for the distribution of power to ring-fenced residential and commercial consumers at Aba, Abia Sate. The contract covered Aba Business Unit and Ariaria Business Unit, both of which form part of the Enugu Distribution Company (Enugu Disco).
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