Privatization of firms in power sector on course – Prof. Nnaji

Minister of Power, Prof Barth Nnaji also explained that the privatization of companies in the power sector is not just about giving it to the private sector to manage but a way of ensuring that the generating companies have the ability to serve powers to the distribution companies that are credit worthy.

Nnaji stated that unless the distribution companies were credit worthy, they would not be able to buy power from the generating companies that would defeat the goal of the transformation in the sector. He expressed regrets that none of the distribution companies were currently credit worthy.

At the close of bidding for power generation and distribution companies, out of the 79 firms that showed interest, 25 of the bids were for generation and management of existing power plants while 54 were for power distribution and transmission.