NIPP projects on-course – VP Sambo.

[FMINigeria]

                        Vice President Mohammed Namadi Sambo has noted that the National Integrated Power Project of Federal Government operated by the Niger Delta Power Holding Company (NDPHC) is making progress especially as it is moving towards actualizing its set goals in 2013.

Sambo who chaired the 28th Board meeting of the Company in the State House, Abuja, reiterated that all contractors handling the NIPP projects must endeavour to deliver at record time.

Vice President Sambo stressed the need to train personnel who will manage the power plants and stations on completion of the project through the National Power Training Institute of Nigeria (NAPTIN).

He also noted the need for the company to engage in new projects such as dams and requested for the design and impact assessment of the new dams in Katsina-Ala in Benue State, Ahmadu Bello University (ABU) and Gurara phase two.

The Board considered and approved some proposals brought to it by the management of NDPHC which include the divesture of eighty percent of the shares in the ten generation companies owned by NDPHC through a public tendering process, which was earlier published and over 203 potential bidders have already registered.

It noted the progress made by injecting about 32.17 (1200MW) per cent of electricity to the national grid and targets 10,000MW by the end of 2013 when all the plants would have been completed.

Also approved was a road show to be held in Lagos, London, USA and Hong Kong and, an Auditor, to audit the financial statement of the company as well as the first Annual General Meeting (AGM) to be held sometime in December, this year. The Board considered and approved the revised milestones and transaction schedule for the year.

In his briefing, the Managing Director, NDPHC, Mr. James Olotu, said the total amount to be realised from the sale of the power facilities could not be ascertain for now but invitation for expression of interest has been released for interested professional firms and financiers who will be interest in buying the companies. He said this will enable them to go and do due diligence and offer a price for consideration.

Governors Gabriel Suswan of Benue State, Ibrahim Hassan Dakwambo of Gombe State, Deputy Governors of Ekiti and Kaduna States, Minister of State for Power, Hajiya Zeinab Ibrahim Kuchi and other senior government officials were at the meeting.

Via: Federal Ministry of Information (FMI) Nigeria

[Folami David]

It's always good for things like this to be said in the open. At least now Nigerians know something is already happening...