Business FG to release power firms october 1

The Bureau of Public Enterprise said the Federal Government will release the privatised power firms to private sector investors on October 1

The Director-General, BPE, Mr. Benjamin Dikki,at a breakfast meeting at the Lagos Business School on Wednesday said the the FG wiil start the handover of power firms to private sector investors on october 1

The BPE boss, therefore, asked the government to encourage private sector investments in gas infrastructure in order to boost power supply in the country.

He said that the bulk of electricity generated inthe country was through gas-fired plants, but Nigeria could not supply the gas required to fire the plants.

Dikki added that the nation would benefit from increased electricity supply and a boost in agricultural and industrial development and bidders for the 15 PHCN successor companies had met the deadline for the payment of the compulsory 25 per cent of the offer values of their bids,however, Interstate couldnt meet the August 21 deadline for the payment of the balance of 75 per cent.


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