4 (four) years following its return to the Federal Government of Nigeria (“FGN”), plans have been disclosed for the proposed re-privatisation of the Yola Electricity Distribution Company (“YEDC”). The YEDC, which was returned to the FGN in 2014 following the declaration of a force majeure by its investors at the time – Integrated Energy and Distribution Company – will now be sold to new investors. It would appear that plans have also been concluded for the sale of the Afam Power Plant.
The planned sale of YEDC and Afam Power Plant by the FGN was disclosed last week by the Director General of the Bureau of Public Enterprises (“BPE”), Mr. Alex Okoh, during a forum organised by the Stakeholders’ Engagement Committee of the National Council on Privatisation (“NCP”) and the BPE. The planned sale of the power assets provides a much-needed opportunity for new players to come into the Nigerian power sector.
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