EVEN in its final stages of conclusion, Nigeria’s power sector privatisation process has not been short on drama and uncertainties. The good news however is that despite the initial doubts about the ability of the preferred bidders to pay up the remaining 75 per cent of the cost of acquiring the privatised power generation and distribution companies, practically all of them actually beat last Wednesday’s deadline for payment.
This is indeed a good development and an indication that the privatisation process of the unbundled firms of the Power Holding Company of Nigeria is firmly on track. But the privatisation agency must come out clean on the issue of Inter-State Electric Limited that failed to meet the payment deadline for Enugu Disco. On no account should the rule be bent.
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