Oando, 53 others bid for Nigeria’s power firms

OANDO Gas and Power, a member of the integrated energy firm, Oando Group, is among 54 companies bidding to acquire the 11 power distribution companies, DISCOs, created from the unbundling of the monopoly Power Holding Company of Nigeria, PHCN.

The 54 companies met Tuesday’s deadline for the submission of technical and financial proposals for the privatisation of the companies.

Others that met the deadline include Honeywell Energy, Tata Power, India’s largest integrated power company; Interstate Electrics Ltd, a joint venture between Chrome Energy Consortium and Power House International Limited; Integrated Energy Distribution and Marketing Limited; Nahco Energy and Power Ltd (a subsidiary of Nahco Aviance Plc with Empower of Finland as technical and strategic partners), Skipper Energy and Enl Consortium Limited.

Mr Chukwuma Nwoko, Head of Communication at the Bureau of Public Enterprises, BPE, disclosed that out of the 11 distribution companies pencilled down for sale, Ikeja Electricity Distribution Company Plc got 10 bids, followed by Eko Electricity Distribution Company Plc with nine bids.

Others are Benin Electricity Distribution Company Plc seven; Ibadan Electricity Distribution Company Plc seven; Abuja Electricity Distribution Company Plc five; Enugu Electricity Distribution Company Plc four; Port Harcourt Electricity Distribution Company Plc three; Yola Electricity Distribution Company Plc three; while Jos Electricity Distribution Company Plc, Kaduna Electricity Distribution Company Plc, and Kano Electricity Distribution Company Plc got two bids each.

Nwokoh said in keeping with the timeline for the privatisation of the distribution companies, the BPE on July 31, received technical and financial proposals from 54 investors, adding that the revised timeline had July 31, as deadline for receiving technical and financial bids from the investors for the 11 distribution firms.

He said the prospective core investors, who must be local and/or international power distributors, or investors with power distributors as technical partners, will be responsible for operating the distribution companies, making the necessary investments to improve the distribution network and customer service in line with government’s objectives.


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