jeff juwana
Moderator
The Bureau of Public Enterprises, BPE is yet to release an official comment more than 24 hours after the close of the commercial transactions for the sale of 15 successor companies unbundled from the Power Holding Company of Nigeria, PHCN.
At the scheduled deadline on Wednesday, 12 companies had paid up the 75 per cent balance, while the remaining two were unable to meet the deadline due to some challenges associated with their respective banks
Commenting on the purchase, the President/Chief Executive Officer, Transcorp, Mr. Obinna Ufudo, said, “Transcorp’s ability to achieve set goals and objectives propels us to target even larger investments in our selected business sectors with the potential to contribute significantly to Nigeria’s development.
“TUPL has extensive worldwide power sector experience in Africa, Europe and the Middle East which underscores its unquestionable capacity to effectively manage the plant profitably in line with international standards.
“Following this remarkable milestone, we shall now take over the operations and management of the plant, deploy our strategy to ensure a smooth transition and in the near term, create a profitable business that will deliver greater outcome in terms of power to the nation. Our inclination to success consistently translates to value for all our stakeholders, one of the goals which we pledged from the outset.”
According to Adeoye Fadeyibi, Chief Executive Officer, TUPL affirmed: ‘This is exciting for us as a company as well as the power sector and every Nigerian. It is the beginning of an era where power becomes constant and within reach. We plan to deliver on capacity targets and sustain the momentum using people and resources to achieve operational excellence.”
Vigeo Power Limited, the bidder for Benin Electricity Distribution Company (BEDC) - which covered Edo, Delta, Ondo and Ekiti States, having completed the payment, promised to offer all existing PHCN workers a chance to proof themselves under the new management in line with the company’s vision.
Members of the consortium include Vigeo Holdings Limited; Global Utilities Management Company Limited (GUMCO); African Finance Corporation (AFC); and TATA Power Delhi Distribution Limited (TPDDL) as the foreign technical partner.
At the scheduled deadline on Wednesday, 12 companies had paid up the 75 per cent balance, while the remaining two were unable to meet the deadline due to some challenges associated with their respective banks
Commenting on the purchase, the President/Chief Executive Officer, Transcorp, Mr. Obinna Ufudo, said, “Transcorp’s ability to achieve set goals and objectives propels us to target even larger investments in our selected business sectors with the potential to contribute significantly to Nigeria’s development.
“TUPL has extensive worldwide power sector experience in Africa, Europe and the Middle East which underscores its unquestionable capacity to effectively manage the plant profitably in line with international standards.
“Following this remarkable milestone, we shall now take over the operations and management of the plant, deploy our strategy to ensure a smooth transition and in the near term, create a profitable business that will deliver greater outcome in terms of power to the nation. Our inclination to success consistently translates to value for all our stakeholders, one of the goals which we pledged from the outset.”
According to Adeoye Fadeyibi, Chief Executive Officer, TUPL affirmed: ‘This is exciting for us as a company as well as the power sector and every Nigerian. It is the beginning of an era where power becomes constant and within reach. We plan to deliver on capacity targets and sustain the momentum using people and resources to achieve operational excellence.”
Vigeo Power Limited, the bidder for Benin Electricity Distribution Company (BEDC) - which covered Edo, Delta, Ondo and Ekiti States, having completed the payment, promised to offer all existing PHCN workers a chance to proof themselves under the new management in line with the company’s vision.
Members of the consortium include Vigeo Holdings Limited; Global Utilities Management Company Limited (GUMCO); African Finance Corporation (AFC); and TATA Power Delhi Distribution Limited (TPDDL) as the foreign technical partner.