The amount is from the payment of the mandatory 25 per cent of the bid value offered by five of the preferred bidders.The Federal Government has so far realised about $156.50 million (N24.6billion) from the sale of five of the 11 Power Holding Company of Nigeria, PHCN, successor companies.
The amount is from the payment of the mandatory 25 per cent of the bid value offered by five of the companies that emerged preferred bidders during a recent commercial bidding exercise organised by the Bureau of Public Enterprises, BPE.
The BPE said in a statement on Monday that Amperion Power Company Limited, which emerged the preferred bidder for Geregu Power Plc, paid $33 million (about N5.18billion), while Integrated Energy Distribution & Marketing Company, the preferred bidder for Ibadan and Yola Distribution Companies paid $42.25million (about N6.63billion) and $14.75million (about N2.316billion) for Ibadan and Yola distribution companies (DISCOs) respectively.
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