ALL is now set for the handover of the successor companies of the Power
Holding Company of Nigeria (PHCN) to new owners.
This is coming after the success of the privatisation in which most of the
preferred bidders paid 100 per cent of the amount required for the
utilities.
But the fate of the Enugu Electricity Distribution Company is still hanging
in the balance, as the Presidency and the Bureau for Public Enterprises (BPE)
seem bent on bending the rules for the preferred bidder who failed to meet the
payment deadline of August 21. The reserve bidder for the utility has also been
kept guessing, though it had indicated readiness to step in following the
preferred bidder’s default as government seems bent on waiting for Interstate
Electric, the defaulting firm to raise the money and pay.
Celebrating the success of the process so far, the Minister....
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