386 investors scramble for Nigeria power plants

Nigeria's National Council on Privatization (NCP) on Tuesday said 386 consortia have been short- listed for the purchase of 10 major power plants in the west African country. Governor of central north Benue State Gabriel Suswam disclosed this after a meeting with Vice President Namadi Sambo and the joint committee of the Niger Delta Power Holding Company and the NCP at the Presidential Villa in Abuja, saying the sales had attracted 110 submissions from local and international investors after recent road shows organized locally and internationally. He said the joint evaluation committee, working to improve the National Integrated Power Project (NIPP) through privatization, had evaluated the interests in which 82 submissions amounting to 386 expression of interests on various power plants were passed. "We have about 46 consortia short-listed for Bariam Power Plant, 44 consortia were considered for Benin, 42 consortia were short- listed for Omotosho, 41 for Egbema, 41 for Omoku, 39 for Geregu, 37 for Calabar, 36 for Ogwurode, 30 for Olaoje, 30 for Olorunshogo - all amounting to 386," the governor said. Suswam said the next stage of the privatization process was for the committee to send requests for proposal to the 386 consortia, after which they would be invited for physical inspection. He gave the assurance that the process of the privatization of the plants would be transparent.