- BPE commences the due diligence test of the pre-qualified investors to acquire the five power plants under the NIPP.
The Bureau of Public Enterprises (BPE) has announced the commencement of the due diligence assessment of sixteen (16) pre-qualified investors. The investors were shortlisted to acquire the five power plants under the National Integrated Power Project (NIPP) of the Niger Delta Power Holding Company (NDPHC).
In an interview with The Punch, officials of the bureau disclosed that the next stage of the process was the bid opening stage, but noted that the government was currently carrying out due diligence on the 16 pre-qualified companies.
“After the pre-qualification stage, the next phase will be the bids opening stage. So right now, due diligence is still being carried out on the 16 companies that were pre-qualified,” said an official of BPE, who pleaded not to be named as he was not authorised to speak on the matter.
The move comes against the House of Representatives directive to the BPE to halt the sale of the power plants in Calabar, Cross River State, Ihorbor, Edo State, Olorunsogbo, Ogun State, Omotosho, Ondo State and Geregu, Kogi State.
The decision to halt the sales followed a motion of urgent public importance moved by the Chairman of the House Committee on Power, Magaji Aliyu (APC, Jigawa), on July 21, 2022. Moving the motion, Aliyu said the power assets belonged to the three tiers of government, with the Federal Government owning 47 per cent while states and local governments own 53 per cent.
He added that the Federal Government was adamant about selling the assets to fund the deficit in the budget without the consent of the other tiers of government and others.