Vice President, Namadi Sambo

The Federal Government has approved an extension of the deadline for the submission of Expressions of Interest (EoIs) for the successor companies of the unbundled Power Holding Company of Nigeria (PHCN) from today to Friday, March 4, 2011.

Spokesman of the Bureau for Public Enterprises (BPE), Mr. Chukwuma Nwokoh, in a statement in Abuja Thursday, said the extension was granted by the government to accommodate the requests of prospective investors. 

He further explained that the extension, which was approved by the Chairman of the National Council on Privatisation (NCP), Vice-President Namadi Sambo, came on the heels of representations by prospective investors, who had appealed for additional time to express interest in the entities.

In the statement, Nwokoh said: “BPE had just concluded a five-city Electric Power Investors’ Forum which was geared to court world class investors to participate in the privatisation of the successor companies. The forum was held in Lagos, Dubai, London, New York and Johannesburg respectively.

“The BPE had between December 13 and 20, 2010, published adverts in local and foreign media inviting prospective core investors to express interest in the 11 distribution companies unbundled from Power Holding Company of Nigeria (PHCN).

“It also invited prospective core investors to express interest in the four thermal power stations and as concessionaires for the two hydro power stations”.