Mohammed Namadi Sambo, vice president and chairman, National Council on Privatisation (NCP), will formally hand over the physical assets of 14 PHCN successor companies to their new owners on November 1, 2013.
The event will take place simultaneously at the headquarters of the successor companies (SCs) across the country where the vice president will be represented by ministers and other top government functionaries. However, Sapele Generation Company (SGC) will not be affected by the exercise since NCP has directed its legal committee to undertake a comprehensive legal review of the status of the company following the failure to complete payment by the preferred bidder.
According to Chigbo Anichebe, head, public communications, BPE, the SCs to be handed over and their new owners are Abuja Distribution Company (KANN Consortium Utility), Benin Distribution Company (Vigeo Power Consortium), Eko Distribution Company (West Power & Gas), Enugu Distribution Company (Interstate Electrics Ltd) and Ibadan Distribution Company (Integrated Energy Distribution & Marketing Ltd).
Others are Ikeja Distribution Company (NEDC/KEPCO Consortium), Jos Distribution Company (Aura Energy Limited), Kano Distribution Company (Sahelian Power SPV Ltd), Port Harcourt Distribution Company (4Power Consortium) and Yola distribution Company (Integrated Energy Distribution & Marketing Ltd).
The Generation Companies are Shiroro (North-South Power Company), Kainji (Mainstream Energy Solutions Ltd), Geregu (Amperion Power Distribution) and Ughelli (Transcorp Ughelli Power Plc).
Top government functionaries who will represent the vice president at the various hand over venues are minister of power, Chinedu Nebo (Abuja); coordinating minister of the economy and minister of finance, Ngozi Okonjo-Iweala (Ibadan); minister of petroleum resources, Deziani Alison-Madueke (Enugu); minister of trade & investment, Olusegun Aganga (Eko); minister of transport, Idris A. Umar (Kainji/Jebba) and attorney general of the federation & minister of justice, Mohammed Bello Adoke- SAN (Yola).