He said the Federal Government was determined to resuscitate the power plants to put them to full use for the much needed power requirement of the people and growth of the nation. He also said that the privatisation of the five NIPP plants was in line with the Bureau’s 2021 workplan as approved by the National Council on Privatisation (NCP). xThe five NIPP plants are: Benin Generation Company Limited at Ihovba, Edo State, Calabar Generation Company Limited, Cross River State, Geregu Generation Company Limited, Kogi State, Olorunsogo Generation Company Limited, Ogun State and Omotosho Generation Company Limited, Ondo State. “In the Request for Proposal (RfP), the bidders were informed that they will be required to pay the full purchase consideration for the acquisition of 80 per cent equity in the NIPP generation companies. He said with the earlier termination of the NIPP transaction in accordance with the provisions of the RfP, the bureau secured the approval of the NCP to privatise the five NIPP Plants.

Source: The Guardian July 05, 2021 15:22 UTC