Power sector privatisation transparent, Sambo tell investors

[Mirror]

Vice President Mohammed Namadi Sambo has assured international investors that the privatisation of the Power Holding Company of Nigeria (PHCN) successor companies is one of the most open and transparent privatisation transaction processes in recent history.

The Vice President made the observation at an investment forum in New York on Wednesday with prospective investors interested in the purchase of 80 percent equity in the 10 National Integrated Power Project (NIPP) power plants, statement issued by the Bureau of Public Enterprise yesterday said.

Represented by Governor Gabriel Suswan of Benue State, Sambo said all the three tiers of government and the private sector in Nigeria are collaborating in the privatisation process of the 10 NIPP power plants being jointly offered for sale by the Bureau of Public Enterprises (BPE) and Niger Delta Power Holding Company (NDPHC) to ensure that the same level of transparency is replicated.

He pointed out that the PHCN transaction, "was a highly transparent process and government has assured investors that the same level of transparency will be replicated".

The Vice President noted that if Nigeria is going to be among the 20 largest economies in the world by the year 2020, the right steps must be taken, assuring that the

National Mirror