The controversies trailing the sale of the Enugu Electricity Distribution Company may finally have been put to rest, following the ratification of the sale of 10 discos and four out of the fice sold gencos by the federal government..
The ratification was given by the National Council on Privatisation, which is chaired by Vice President Namadi Sambo at its meeting on Friday.
Briefing journalists after the NCP meeting the Chairman, Technical Committee, Atedo Peterside, announced that the NCP had decided that the sale of the Sapele Electricity Generation Company should be put on hold, since the preferred bidders failed to fulfil the payment of the 75% balance as at today, Friday, 20th of September.
The reserved bidder, Eastern Electric had taken the matter to court over the failure of Interstate Electric, a preferred bidder to make full payment before the deadline on August 23.
Interstate Electric is linked to, Emeka Offor a businessman, while Eastern Electric is linked to former Minister of Power, Barth Nnaji.
Peterside declined further comment on the matter stating that it was already in court.
According to him: "In today's meeting, we met largely to discuss the power sector transaction, about the PHCN DISCOS and GENCOS and the NCP ratified all the transactions except one and I will explain" adding "For the DISCOS, the sales of the 10 of them to the preferred bidders was ratified. I repeat the sale of the DISCOS to the preferred bidder was ratified."
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