The Bureau of Private Enterprises (BPE) on Thursday hinted that 19 companies had indicated interest to acquire the Afam Power Company and the Yola Distribution Company (YDC) put up for sale by the Federal Government.
The Bureau, in a statement issued by its Head, Public Communications, Amina Othman Tukur, disclosed that at the close of the submission of bids for the Expression of Interest (EOIs) for the two power companies, seven companies submitted bids to buy Afam GenCo while 12 submitted for the Yola Disco.
Tukur stated that after the 1 pm deadline for the submission of EoIs for the two companies on Tuesday, September 26, 2018, some of the companies that expressed interest to acquire the two entities were renowned players in the power industry.
She confirmed further that the Evaluation Committee earlier set up by the Bureau to scrutinize the bids was immediately inaugurated by the Bureau’s Director of Energy, Mr.Yunana Jackdell Malo after the expiry of the deadline to commence work.
The request for expression of interest in the two companies was published by the BPE in national newspapers on August 16, 2018.
It would be recalled that although Yola Disco was successfully privatised and handed over to the core investor in 2013, a force majeure was declared in 2015 by the core investor citing insecurity in the North-East region of the country.
Following this, the company was duly repossessed by the Federal Government.
The transaction for Afam Power GenCo on the other hand was not consummated due to the delay in signing the Gas Supply Agreement (GSAA) and the Gas Transportation Agreement (GTA).
In 2017, the National Council on Privatisation (NCP) gave approval for a fresh transaction to privatise the two power entities.
