Privatization of Power Holding Co. of Nigeria
Privatization of the 18 successor companies of Power Holding Company of Nigeria (PHCN) is expected
to be concluded by May 2011, Director General of the Bureau of Public Enterprises (BPE) Ms Bolanle Onagoruwa has said.
Ms Onagoruwa also said only six companies met the August 23, 2010 deadline for the submission of Expressions of Interest (EOI)
for the provision of consultancy for the privatisation of the generation and distribution successor companies of PHCN.
She said the Requests for Proposal (RFPs) would be sent to the firms this week, noting that they have five weeks to respond.
The firms are Standard Chartered Bank, IPA Energy, Goldman Sachs/ Stanbic IBTC, CPCS Transcorp, Lazard/UBA and African Finance Corporation.
according to a statement by the agency, the BPE Chief made the disclosure during an interactive session of key government officials with the private sector.
"The next stage of the reform is to start an electricity market. The reform involves some level of liberalisation as we will request
investors to enter the market for the full privatisation of the PHCN. We have started the process of engaging consultants through
Quality Based Selection (QCBS) method.” She said.
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