Progress continues in the power privatization exercise as 11 of the selected bidders have made payments in excess of $449 million to the Federal Government for 12 of the companies.
This leaves a shortfall of 3 companies yet to be paid for even as the 25% payment deadline expires today.
Chigbo Anichebe, spokesman for the Bureau of Public Enterprises has confirmed the development.
According to Anichebe, bidders that paid on Wednesday are Vigeo Consortium, which paid $32.25m for Benin Distribution Company; Transcorp/Woodrock Consortium, which paid $75m for Ughelli Power Plc; CMEC/EUAFRIC Energy JVwhich paid $50.25m for Sapele Power Plc; and Kann Consortium, $41m for the Abuja Distribution Company.
Others were Aura Energy, which paid $20.46m for Jos Distribution Company; Mainstream Energy Limited paid $59.46m for Kainji Power Plc; and Sahelian Power SPV, which paid $34.25m for the Kano Distribution Company.
Bidders that had earlier paid the mandatory 25 per cent of the bid values for the respective companies they intend to buy were Amperion Power Company Limited, which paid $33m for Geregu Power Plc; Integrated Energy Distribution & Marketing Company, $42.25m for Ibadan Distribution Company, and $14.75m for Yola Distribution Company; NEDC/KEPCO, paid $32.75m for Ikeja Distribution Company; and West Power & Gas, paid $33.75m for Eko Distribution Company.
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