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Privatisation: Powers behind the new power companies


Following the handing-over of ownership certificates and legal documents to the 15 new investors of the new power firms drawn out of the defunct Power Holding Company of Nigeria (PHCN), electricity consumers are expecting quality service delivery from the firms. It is, hence, pertinent that the public is enlightened on the real owners of the companies to help prepare them for likely expectations.

President Goodluck Jonathan on Monday September 30 handed over ownership certificates to 15 new investor companies to take over five generation companies (Gencos) and 10 distribution companies (Discos). The Bureau of Public Enterprises (BPE) put the total sale figures of both the gencos and discos at $2.525 billion (about N404 billion). The gencos went for $1.269 while the discos were sold for $1.256bn.

Vice President Namadi Sambo said that with the take-over, the federal government expects the new genco owners to generate additional 5000 megawatts within a…

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Development and policy analyst with a strong interest in the arts and inclusive social change. Dabbles occasionally into poetry and literary criticism!

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