19 investors conduct due diligence on Afam Power, Yola Disco

Nineteen prospective investors are currently conducting due diligence on Afam Power Plc and Yola Electricity Distribution Company.

While seven of the companies are currently examining the data on Afam Power Plc, twelve are examining the data and assets of Yola Electricity Distribution Company in order to determine what exactly is on offer for sale by the Federal Government. Director of Energy at the Bureau of Public Enterprises, Mr Yunana Malo, confirmed the development in a telephone interview.

The privatisation agency had said that it planned to realise N400bn from the sale of the two power companies that were carved out from the defunct Power Holding Company of Nigeria and a few other assets to fund the 2018 budget.
Malo said that the plan to realise such an amount of money from the sale of the two companies and a few other ones was sufficient proof that there was no plan to dispose of the power generating company for scrap.

Source: The Punch

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...