Prof. Chinedu Nebo
•FG ready for private sector's takeover
• Elumelu: Transcorp will make life better under power sector reform
Chika Amanze-Nwachuku and Chineme Okafor
The lobbying by Interstates Electrics, the preferred bidder for Enugu Distribution Company (Disco), to make the National Council on Privatisation (NCP) to bend the rules for it following its inability to meet up with the Wednesday deadline for the payment of the balance of the 75 per cent bid price is causing rumpus among council members, THISDAY checks have revealed.
Interstates, which is promoted by businessman, Emeka Offor, was preferred to acquire the Enugu Disco and like others, it had initially paid the mandatory 25 per cent bid price but was unable to meet up with the 75 per cent balance at the expiration of the deadline set by the Bureau of Public Enterprises (BPE).
Fourteen other bidders beat the Wednesday deadline Thursday by paying up the 75 per cent balance.
Transnational Corporation of Nigeria (Transcorp) Plc Chairman, Mr. Tony Elumelu, whose company’s consortium, Transcorp/Woodrock, is the preferred bidder for Ughelli Power Plc, however said Thursday that the participation of the conglomerate in the power sector reform initiative was aimed at making life better for Nigerians and impacting positively on the economy
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