- CNG asks reps to reject NDPHC asset sale
- Says planned sale is against the interest of Northern Nigeria
The Coalition of Northern Groups (CNG) has rejected the planned sale of the Niger Delta Power Holding Company (NDPHC) assets by the Federal Government. Speaking on behalf of the CNG at the hearing by the House of Representatives Joint Committees on Power, Privatisation, and Commercialisation, Mr Kayode Musbau said the planned sale is against the interest of the northern region.
The group rejected the plan of the Federal Government to use the proceeds of the sale to fund the 2021 budget saying, this goes against the mandate of the NDPHC. Furthermore, Mr Rufai states that the planned privatisation “….reneges on the initial understanding that, after certain years of piloting the projects in Southern Nigeria, the assets were to be sold and the proceeds reinvested in setting up hydro generation assets in parts of northern Nigerian states for a similar length of time.”
The Federal Government plans to sell the NDPHC power plants, including Benin, Calabar, Geregeu II, Olorunsogo, and Omotosho power plants.