• How Dangote, WEMPCO fell out of bids
By Adeola Yusuf, Senior Correspondent, Lagos
The National Council on Privatisation (NCP) will on or before October 23, 2012 terminate the federal government’s ownership of the Power Holding Company of Nigeria (PHCN) by unveiling the preferred bidders for the 17 successor companies, the Bureau of Public Enterprises (BPE) disclosed at the weekend.
Spokesperson for the agency saddled with ensuring smooth sail for the privatisation process, Chukwuma Nwokoh stated this adding that it would, between September 25, 2012 and October 10, 2012, open the financial bids of prospective investors for the privatisation of the successor companies created from the PHCN ahead of the NCP action.
This came as Dangote Power, an arm of the Dangote Group, owned by business magnate, Aliko Dangote, has missed the July 17 deadline given to investors bidding for Nigeria’s six power generation companies under the privatisation programme.
Nwokoh, head of public communications at the BPE confirmed this maintaining that with the closure of bid, the next stage would be the July 31, 2012 deadline for technical and financial proposals from those bidding for the distribution companies.
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