As the deadline for the payment of the 25 per cent of offer
value for the 15 successor companies of the Power Holding Company of Nigeria
(PHCN) expired Wednesday, the Bureau of Public Enterprises (BPE), on Thursday
announced that all 15 bidders have fulfilled the obligations.
A statement by the BPE said a total of $590,445,73.96 was paid as 25 per cent
of the value of the Distribution Companies, (DISCOs) and Generation Companies
(GENCOs).
A breakdown of the amount received showed that the Bureau received $31
million from 4Power Consortium, for Port-Harcourt Distribution Company; $31.5
million from Interstate Electrics Limited for Enugu Distribution Company; and
$27,913,633.50 from North-South Power Company for Shiroro Power Plc.
Earlier, Vigeo Consortium, the preferred bidder for Benin Distribution
Company, had paid $32.25 million; Transcorp/Woodrock Consortium paid $75 million
for Ughelli Power Plc; CMEC/EUAFRIC Energy JV, paid $50,249,965 for Sapele Power
Plc; while Kann Consortium paid $41 million for Abuja Distribution Company. The
BPE also announced receipt of $20,464,968.15 from Aura Energy, for Jos
Distribution Company; $59,467,500 from Mainstream Energy Limited for Kainji
Power Plc; while Sahelian Power SPV paid $34.25 million for Kano Distribution
Company.
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