As part of the reforms affecting electricity generation and distribution, ten (10) power distribution companies referred to as DISCOs under the aegis of the National Council on Privation policy endorsement.
The National Council on Privatisation (NCP), which is chaired by Vice-President Namadi Sambo has ratified the sale of 10 electricity distribution companies (DISCOS) including the Enugu Disco, for which the reserve bidder is challenging the sale in court.
The preferred bidder, Interstate Consortium, had reportedly failed to meet payment deadline but still secured the deal, a development the reserved bidder, Eastern Electric, is kicking against.
Interstate is linked to businessman, Emeka Offor, while eastern electric is linked to former minister of power, Barth Nnaji.
Chairman of the NCP Technical Sub-Committee on the sale process, Mr. Atedo Peterside, who confirmed the eventual sale, however declined to give details of how the issue was resolved because it’s now before the courts.
The announcement of the sale is coming at a time Nigerians have expressed concern over the Enugu Disco.
Mr. Osita Okechukwu in a press conference gave the Bureau of Public Enterprise (BPE) an ultimatum to furnish the Nigerian public on the sale in line with the freedom of information act or face legal action.
Meanwhile, the bulk of the proceeds from the sales is being used for the payment of severance entitlements to about 49,000 workers of the Power Holding Company Of Nigeria (PHCN)
According to the NCP all payments are scheduled to be completed by September 27, while the formal hand-over of the companies to the new owners will be done in October.
