A company owned by former Head of State, General Abdulsalami Abubakar, Integrated Energy Distribution and Marketing Company, has emerged the core investor of the Eko, Ikeja, Ibadan and Yola electricity distribution companies.
The company emerged as the preferred bidder on Tuesday in Abuja at the opening of the commercial bids for the privatisation of the successor distributor companies of the Power Holding Company of Nigeria.
The Chairman, Technical Committee of the National Council on Privatisation, Atedo Peterside, who presided over the bid, said the Kaduna Distribution Company bid was not concluded as “none of the two bids received for company met the technical requirements.”
Peterside said the Bureau of Public Enterprises will call for fresh bids from all the pre-qualified bidders in accordance with the ‘Plan’ approved by the NCP in respect of the privatisation of any unsold successor company.
“Plan B entails inviting fresh bids from all the shortlisted bidders that paid the required $20,000 fee for the bid documents,” he said.
The Federal Government raked in N197.25 billion from the sale of its 60 per cent stake in 10 out of the 11 electricity distribution companies in the unbundled PHCN.
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