Electricity

Emma Ujah, Abuja Bureau Chief

The National Council on Privatisation (NCP) has approved the strategy and workplan to fast-track the concession of Zungeru Hydroelectric Power Plant (ZHPP) in Wushishi Local Government Area of Niger State .

The Bureau of Public Enterprises (BPE), said yesterday, that the decision was taken in order to ramp up electricity generation in the country.

The privatisation agency said in a statement issued by Mr. Uzoma Ibeh, “The Council noted that the key objectives of the plan’s concession include leveraging the private sector access to finance and reducing reliance on government budgetary allocation to fund the China EXIM Bank loan; there is need to ensure that a timely implementation programme is adopted hence, a fast-track transaction process is being recommended.

“The approved fast-track transaction process will enable the Bureau of Public Enterprises (BPE) work with the Joint Technical Committee (JTC), chaired by the  Chairman, Technical Committee of the NCP with members drawn from the  Office of the Vice President (OVP), Ministry of Power, Ministry of Finance, Ministry of Water Resources, Bureau of Public Enterprises (BPE), and the Accountant General of the Federation to review and address all issues including approvals and regulations needed to proceed to the next phase of the transaction.

“The fast-track transaction plan includes a reduced time frame for obtaining approvals for key stages of the transaction process.”

The bureau said that the new framework was to get value for the transaction within a short time. 

It would therefore advertise for Request for Qualification (RFQ); shortlist of successful prospective investors; issue of RFQ; evaluate technical proposals; and shortlist prospective investors for Financial Bid opening, as well as, setting a date for the financial bid opening, all within a short timeframe.

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