54 Investors Bid For 11 PHCN’s Firms

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The Bureau of Public Enterprises (BPE), has received, as at Tuesday, technical and financial proposals from 54 investors interested in the privatisation of the Power Holding Company of Nigeria (PHCN).

The bids were made for the 11 distribution companies from the unbundled PHCN.

The 54 prospective investors were those that beat yesterday’s deadline, under BPE’s revised timeline, for the receipt of technical and financial bids for the distribution companies.

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The profile of the bids showed that 10 investors enlisted interest in Ikeja Electricity Distribution Company Plc; nine for Eko Electricity Distribution Company Plc; seven bids each for Ibadan Electricity Distribution Company Plc and Benin Electricity Distribution Company Plc; while five showed interest in Abuja Electricity Distribution Company Plc.

Four investors bidded for Enugu Electricity Distribution Company Plc; while three bids each were made for Port Harcourt Electricity Distribution Company Plc; and two bids each were recorded for Jos Electricity Distribution Company Plc; Kaduna Electricity Distribution Company Plc and Kano Electricity Distribution Company Plc.

—Henry Ojelu

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