March 18, 2019

5 investors bid for Yola Disco, Afam Genco

Electricity, Imo, Police

By Emma Ujah, Abuja Bureau Chief

A total of five investors have submitted bids for the acquisition of the Yola Electricity Distribution Company (Yola Disco) and Afam Electricity Generation Company (Genco).

Two firms- Quest Electricity Nigeria Limited and Sandstream Nigeria, submitted proposals to acquire the Yola Disco; while DiamondStripes Consortium, Unicorn Power Generation Consortium and Transcorp Power, sought to acquire the Afam Genco.

Nineteen (19) firms have indicated interest to acquire the Afam Power Company and the Yola Distribution Company (YDC), put up for sale by the Federal Government.

Seven companies submitted Expression of Interest (EOIs) to buy Afam, while 12 wanted to buy Yola Disco.

However, the Head, Public Communications of the Bureau of Public Enterprises (BPE), Amina Tukur disclosed this morning, in Abuja, that only five firms met the Friday March 15, 2019 deadline for the submission of Technical and Financial Proposals for the two companies.
Details later…