Nigeria’s quest to provide quality electricity supply to the populace and businesses was given a boost last week when the Niger Delta Power Holding Company (NDPHC) received bids from 66 prospective investors in the 10 National Integrated Power Plants (NIPPs) built by the company. However, Andy Nssien, Business Editor, reports that the expected output from the power privatisation exercise is still a distant cousin from what would keep the Nigerian populace and businesses out of darkness in the foreseeable future.
The 10 NIPPs now being privatized were built by the Niger Delta Power Holding Company (NDPHC) with the intention of selling 80 per cent stake to private investors who are believed to be better managers of such business.
The remaining 20 per cent will be retained by the three tiers of government who are the original shareholders of the company.
The NDPHC has assured that its ten power generation plants would be completed before handing over to new owners in June next year.
Managing Director of NDPHC, James Olotu, said the plants built under the National Integrated Power Project, would attain ‘fit for purpose’ status before that date.
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