YOLA, AUGUST 17, 2018 – The Federal Government has given the Bureau for Public Enterprises (BPE) go ahead to privatise the Afam Power Generation Company Plc and the Yola Distribution Company.
The Federal Government’s approval came through the National Council on Privatisation (NCP), a statement said yesterday.
“As part of the exercise, the NCP/BPE, on behalf of the Federal Government, hereby invites prospective bidders who will be responsible for operating the stations, improving the generation capacity and will make all necessary investments in line with the objectives of the Federal Government of Nigeria set out in the National Electric Power Policy (NEPP) 2001,” the statement said.
The statement further said the Afam Three Fast Power Limited (ATFPL), referred to as Afam GenCo, would be sold through competitive bidding.
It said the GenCo consisted of Afam 1 – 5, with an original installed capacity of 987 MW.
“The plant was commissioned in five phases between 1962 and 2001. The section also has 132 KV and 330 KV switchyards that are owned and operated by the Transmission Company of Nigeria (TCN),” it said.
Foreign firms applying for the bid must show evidence of tax payment in home country for 2014, 2015 and 2016; technical and operational capabilities; evidence of ownership or management or operation of thermal power generating plants,” it said.
Other conditions include evidence of a strong balance sheet and demonstration of a good financial track record over time with respect to its core businesses and in other generation projects.
BPE stated that upon receipt of Expression of Interest from interested investors, the BPE would evaluate and pre-qualify applicants.
Similarly , the Federal Government, through the NCP, has approved the privatisation of the Yola Electricity Distribution Company (Yola DisCo), which is 100 per cent owned by the Federal Government, through competitive bidding to be managed by the BPE.
