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Transformation Agenda

FG Hands Over PHCN To New Owners

The Federal Government of Nigeria has successfully handed over the Eko Distribution Company, Marina, Lagos to its new owners and core investors, West Power and Gas Limited.

The ceremony took place in 10 different venues simultaneously across the country where other PHCN facilities were handed over to core investors and new owners.

Performing the ceremonial handover in Lagos on Friday, the chairman of the National Council on Privatisation, Vice President Namadi Sambo, represented by the Minister of Industry Trade and Investment, Olusegun Aganga, said that the  Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) would monitor the operations of the core investors to ensure they stick to the rules of engagement.

He also expressed optimism that Nigerians will begin to reap the fruits of the privatisation process.

According to a statement by the  Head, Public Communications of BPE, Chigbo Anichebe, the successor companies 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).

See more – http://www.channelstv.com/home/2013/11/01/fg-hands-over-phcn-to-new-owners/

About TransformationWatch

TransformationWatch is an online news site founded by Henry Omoregie It is focused on keeping tabs on the Transformation Agenda set out by the Nigerian leadership in the Local, State and Federal Governments. My mission is to observe, analyze and report milestones or slowdowns in promised service delivery in all the facets of governance in Nigeria (2011 and beyond). Readership is open to all Nigerians and friends of Nigeria alike, regardless of Tribe, Religion or Political divide. We are all in this together


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