Breaking News

Privatisation of PHCN sacrosanct, says NCP

Abuja – The National Council on Privatisation (NCP) said in Abuja on Monday that it was committed to the strict implementation of the privatisation programme of the PHCN.

The Director-General of NCP, Ms Bolanle Onagorowa, gave this commitment when she briefed journalists on the monthly meeting of the council presided over by Vice President Namadi Sambo.

Onagorowa said the July 31, deadline for the submission of the bids for the Distribution Company of the PHCN remained sacrosanct as the council vowed to strictly adhere to its timeline on the exercise.

She said the council also revised the timelines for various approvals that would be required for transactions in the PHCN.

Onagorowa said the council would meet on Aug. 24, to reveal the bidders that passed the technical evaluation for bidders for the generation companies

She also said the council would meet on Sept. 11, to reveal the list of bidders that passed technical evaluation for the distribution companies.

According to her, the financial bids opening for the generation companies would be on Sept. 25, while financial bid opening for the distribution companies would be on Oct. 8.

She said the council would give final approval for the commercial bids for distribution companies on Oct. 22.

The Minister of Power, Prof. Barth Nnaji, said the privatisation programme was a key pillar of the ongoing reform in the power sector.

He expressed satisfaction with the level of power generation and distribution, adding that that efforts were on to ensure stable power supply across the country. (NAN)


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.