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Business > Energy
Bids for Nigeria’s power firms surpasse expectation, says Nnaji
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By Victor Iluyemi
August 1, 2012 16:24:19pm GMT      |      Views: 355
Barth Nnaji

Abuja WorldStage Newsonline-- Nigeria’s minister of Power, Barth Nnaji, on Wednesday said the 79 firms that bid for power generation and distribution companies to be privatised by the government surpassed the expectation of power ministry, and a clear indication that the policies of government are working.

 Nnaji who spoke on the previous day's close of bidding for power generation and distribution companies, said 25 of the bids were for generation and management of existing power plants while 54 were for power distribution and transmission,

"With the latest move, distribution companies will now be credit worthy enough to sustain their operations,” he said.

The minister also noted that government will significantly reduce money it had been spending on distribution and transmission of power, and concentrate rather on encouraging and boosting power generation from hydro-power dams and coal.

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