Of the five firms that emerged bid winners on Tuesday for five electricity generation companies owned by the country put up for sale, two are headed by businessman Femi Otedola and Tony Elumelu, former head of UBA. The bid winners are Transnational Corporation of Nigeria (Plc), Amperion Consortium, CMEC/Eurafric Energy Consortium, Mainstream Energy Solutions Limited and North-South Power Company Limited.
At the proceedings of the bidding which was conducted in Abuja by the
National Council on Privatization, Transcorp emerged the preferred
bidder for the Ugheli thermal power plant with an offer of $300m to beat
its closest rival, Amperion, which offered $252m.The former Managing
Director, United Bank for Africa Plc, Mr. Tony Elumelu, is the chairman of Transcorp, with his Heirs Holdings having substantial equity in the conglomerate.
Also, Amperion Consortium, with $132m, won the bid for the 414
megawatts Geregu power plant, though it initially offered $128.52m as
the sole bidder for the plant. Amperion is made up of Israeli-based BSG
Resource Limited, State Grid Corporation of China and Forte Oil Plc, in
which billionaire businessman, Mr. Femi Otedola, is the major stakeholder.
NCP), Mr. Atedo Peterside,
who supervised the opening of the bids for the generation companies
also said “The privatisation of the distribution companies is also on
track and so we should reassemble here on October 16 for the commercial
bids opening for the Discos.”