The Bureau of Public Enterprises (BPE) has amended the timeline for the conclusion of the privatisation of Yola Electricity Distribution Company (Disco) in Adamawa State and the 987.2 megawatts (MW)- capacity Afam Power Generation Company (Genco) in Rivers State, it was gathered Wednesday in Abuja.
According to reliable sources in the BPE, the conclusion of the privatisation of both electricity assets would no longer happen this month, but within the first quarter (Q1) of 2019. It was gathered that 11 investors – eight for the Genco and three for the Disco, have been prequalified to proceed to the next stage of the privatisation exercise, which is the Request for Proposal (RfP) stage.
It was learnt that due to community disturbances at Afam, which resulted in the investors not being able to undertake a due diligence of the power generation facility, the privatisation agency was forced to amend its privatisation timetable for the plant.
That of Yola Disco, it was further learnt, was however not in any way affected by the renewed insurgency in the North-east, but BPE was said to have opted to undertake the privatisation of the two assets at once. Speaking on the development, sources in the BPE explained that potential investors for the two power assets were aware of the situation.