Five firms have submitted financial and technical bids to purchase 51 per cent stake in the Afam Power Plc – an electricity generation company – and Yola Electricity Distribution Company.
Head, Public Communications at the Bureau of Public Enterprises, Amina Othman, disclosed this in a statement made available to our correspondent in Abuja on Monday.
“Two firms – Quest Electricity Nigeria Limited and Sandstream Nigeria – submitted proposals to acquire the Yola Disco while DiamondStripes Consortium, Unicorn Power Generation Consortium, and Transcorp Power, sought to acquire the Afam Genco. Okoh said the Evaluation Committee would meet immediately to discuss and finalise the scoring criteria before commencing the evaluation process which is expected to end on Thursday.
The Yola Distribution Company had been successfully privatised and handed over to the core investor in 2013. However, a force majeure was declared in 2015 by the core investor citing insecurity in the North-East region of the country. Following this, the company was duly repossessed by the Federal Government.
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