The Bureau of Public Enterprises, BPE, Thursday confirmed the receipt of the sum of $469.032 million from 11 bidders for 12 Power Holding Company of Nigeria, PHCN successor companies.

The confirmation, which was contained in a statement issued by the BPE, came ahead of today’s deadline for preferred bidders for the successor companies to make the mandatory 25 percent payment of the offer value of their bids,

Among the bidders that paid yesterday were:

·          Vigeo Consortium, the preferred bidder for Benin Distribution Company, which paid $32.25million   ·         Transcorp/Woodrock Consortium – $75 million for Ughelli Power Plc

·         CMEC/EUAFRIC Energy JV- $50,249,965 for Sapele Power Plc

·         Kann Consortium – $41 million for Abuja Distribution Company

·         Aura Energy – $20,464,968.15 for Jos Distribution Company

·         Mainstream Energy Ltd – $59,467,500 for Kainji Power Plc

·         Sahelian Power SPV – $34.25million for Kano Distribution Company.

Other bidders that had earlier paid the mandatory 25 percent of the bid value of the successor companies they intended to buy included:

·         Amperion Power Company Limited – $33 million for Geregu Power Plc

·         Integrated Energy Distribution & Marketing Company – $42.25 million and $14.75 million for Ibadan and Yola Distribution Companies respectively

·         NEDC/KEPCO – $32.75 million for Ikeja Distribution Company

·         West Power & Gas – $33.75 million for Eko Distribution Company.

However, the Bureau said in a statement that it was still awaiting the payment of the mandatory 25 percent bid value from three other bidders, namely, 4Power Consortium  for Port-Harcourt Disco; Interstate Electrics Limited for Enugu Disco; and North-South Power Company for Shiroro Power Plc.

Recall that the final approval of the preferred bidders by the National Council on Privatisation, NCP, and its announcement for the successor companies was done on October 23, 2012.

The Nigerian electricity industry has been unbundled into generation and distribution companies and a single transmission company with a view to encouraging private sector participation and attracting foreign and local investment into the Nigerian power sector to ensure economic and reliable electricity supply.