BPE Shifts Privatisation of Yola DisCo, Afam GenCo
The Bureau of Public Enterprises (BPE) has amended the timeline for the conclusion of the privatisation of Yola Electricity Distribution Company (Disco) in Adamawa State and the 987.2 megawatts (MW)- capacity Afam Power Generation Company (Genco) in Rivers State, THISDAY gathered Wednesday in Abuja.
This is coming as data from the Office of Vice President Yemi Osinbajo has shown that Nigeria’s power sector could not earn a total of N530.868 billion in 2018 due to varied operational constraints, which included lack of adequate gas to power the Gencos; and poor distribution and transmission facilities, as well as water reserves issues.
The country’s electricity market had ended the year 2017 with a loss of N423.529 billion.
According to reliable sources in the BPE who spoke to THISDAY, the conclusion of the privatisation of both electricity assets would no longer happen this month, but within the first quarter (Q1) of 2019.
THISDAY gathered that 11 investors – eight for the Genco and three for the Disco, have been prequalified to proceed to the next stage of the privatisation exercise, which is the Request for Proposal (RfP) stage.