The race to acquire majority stake in the successor companies of the Power Holding Company of Nigeria (PHCN) intensified last week, as the Bureau of Public Enterprises (BPE) confirmed receipt of $559.446 million from 14 prospective buyers of 15 generation and distribution assets across the country.
The amount represents 25 percent of the offer value for the 15 PHCN companies
being sold by the Federal Government to private entities.
BPE set a deadline of Thursday, March 21 for all the bidders to pay up 25 per
cent of the value of assets for which they emerged preferred bidders.
According to the BPE, while 11 bidders had paid by Wednesday, three others
made payments hours before the expiration of the deadline on Thursday.
This came as members of Nigeria’s House of Representatives were forced to
adjourn plenary session, Wednesday, due to power outage.
The power cut, which was intermittent, affected he public address system in
the chamber.
Under discussion at the House was the report of the House Committee on Health
on a Bill for an Act to repeal the National Health Insurance Scheme, NHIS, Act
of 1999 and re-enact the National Health Insurance Commission.
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