The Federal Government on Thursday said the preferred bidders for the power generation and distribution companies who met the deadline for the payment of the 75 per cent balance of their bid prices could now take over the companies.
The Minister of Power, Prof. Chinedu Nebo, said the government had recorded substantial compliance in payment by the preferred bidders.
He said in a statement made available to our correspondent, “By the close of transaction on Wednesday night, all preferred bidders had paid up, except for the Enugu Distribution Company, while the preferred bidder for the Sapele Power Station had made substantial part-payment.
“The completion of payment now entitles the preferred bidders to take full possession of the 15 PHCN unbundled entities, which include 10 distribution companies and five generation companies.”
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