FRI JULY 04 2025-theGBJournal|The Assets Management Corporation of Nigeria (AMCON) Thursday confirmed it has sold its 60% stake in Ibadan Electricity Distribution Company (IBEDC) for N100 billion.
The sale was disclosed by the Managing Director/CEO of the asset management company during a briefing with media executives.
The sale is part of the federal government’s planned sale of power distribution companies under the management of banks and AMCON, and part of its wider power sector reforms.
The AMCON boss did not disclose the preferred bidder but assured that the DisCo will soon be handed hand over to the preferred bidder.
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