EFCC-LOGOFollowing last Friday’s closure of the bid for the Alaoji Generation Company Nigeria Limited and nine others National Integrated Power Plants (NIPPs) by the Niger Delta Power Holding Company, there were indications at the weekend that officials of the State Security Service (SSS) and the Economic and Financial Crime Commission (EFCC) are beaming their searchlight on the various bids submitted by potential investors.

The Niger Delta Power Holding Company (NDPHC), owner of the NIPP, which disclosed this at the weekend, maintained that both agencies are being joined by representatives of the World Bank, Ministry of Power, as well as the Nigerian Electricity Regulating Commission (NERC), for thorough evaluation of the bids.

The Federal Government, according to Finance Minister, Dr. Ngozi Okonjo-Iweala, expects to garner $3.2 billion (about N512 billion) from the sale of the 10 power plants.

“A second phase of power privatisation involving the NIPP assets is estimated to bring about $3.2 billion into government coffers,” she said at a stakeholders’ forum organised by the Investments and Securities Tribunal to mark its 10 years anniversary in Abuja recently.

Addressing a media parley in Lagos at the weekend, Managing Director of the NDPHC, Abiodun Olotu, said the Federal Government expects the evaluation of the bidders’ technical competence to be completed within two weeks.

According to him, “we will now give the bids to an evaluation committee comprising of technical people; Engineers, lawyers, accountants and we also have Economic and Financial Crimes Commission (EFCC), the States Security Service (SSS), the World Bank and we have other members of the International community represented and it would be monitored by Nigeria Electricity Regulating Commission (NERC).

“There will be members from the ministry of power there and my staff will be there as well. We will lock them up somewhere that is quiet and very safe and they will be working throughout and very hard for the next two weeks to the Evaluation.

“Now it is after the evaluation that they will now bring out the evaluation report, which will then be taken to the board and the owners of the company to tell them that this is the report and upon their approval, we will announce the result.

“Then we will open the financial bid. The one we have now is the technical bid, which is to show that these companies have the technical capacity to be able to run these companies efficiently and effectively the power plant of the size, which they want to buy into.”

It would be recalled that over 120 local and foreign power firms across the world were on Thursday in last-minute race to outsmart one-another for the purchase of these power plants.

Olotu told journalists at the commissioning of 4×15 MVA transformers in Lagos last Thursday that the bid for the plants would be officially closed by 5 pm last Friday.

Although Olotu declined to mention the number of bids received so far “until after the bid is officially closed.”

Olotu, who promised his company’s commitment to deliver 4, 200 Mega Watts of electricity to the national grid through the NIPP arrangement poured praised President Goodluck Jonathan and Vice President Nnamadi Sambo for their fore-sightedness and commitment to improvement of the nation’s power supply situation.

The NIPPs, he continued, presently deliver 1,900 megawatts to the national grid.

NDPHC, a special purpose firm owned by the three tiers of government in the country, in the advertisements in national dailies, listed the generation firms on sale to include: Alaoji Generation Company Nigeria Limited near Aba, Abia State with 831.3MW gross installed capacity; Benin Generation Company Limited, near Benin City with 507.6MW installed capacity; and Calabar Generation Company Limited, near Calabar city, Cross River State with total installed capacity of 634.5MW.

Others are Egbema Generation Company Limited near Owerri, Imo State with total installed capacity of 380.7MW; Gbarain Generation Company Limited, near Yenagoa, Bayelsa State with total installed capacity of 253.8MW; and Geregu Generation Company Limited near Ajaokuta, Kogi State with total installed capacity of 506.1MW.

Also on sale are: Ogorode Generation Company Limited near Sapele, Delta State with total installed capacity of 507.6MW; Olorunsogo Generation Company Limited in Olorunsogo, Ogun State with a total installed capacity of 754MW; Omoku Generation Company Limited near Port Harcourt, Rivers State with total installed capacity of 264.71MW; and Omotosho Generation Company Limited in Okitipupa Local Government Area of Ondo State with a total installed capacity of 512.82MW.


[Daily Independent]