Describing the 10 National Integrated Power Projects (NIPPs) power generating plants under the management of the Niger Delta Power Holding Company of Nigeria, as “critical national assets,” the State Governors on Thursday declared that they would review the Federal Government’s plan to privatize the facilities.
State governments own 53 per cent share of the NIPPs, while the Federal Government owns the remaining 47 per cent.
In a communique issued at the end of the 36th teleconference meeting of the Nigeria Governors’ Forum, signed by the NGF Chairman, Governor Kayode Fayemi, and obtained in Abuja on Thursday, the governors said the proposed NIPPs privatisation would be reviewed.
The communique read in part, “On the proposed privatisation of the 10 generating plants located across the country under the National Integrated Power Projects, members received a detailed presentation by the Director-General of the Bureau of Public Enterprises, Alex Okoh.
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“And resolved to review and communicate through their board representatives, their assessment and position on the privatisation of what they consider critical national assets.
“States currently own a total of 53 per cent equity in NIPPs, while the Federal Government owns a 47 per cent stake.”
There had been diverse positions as touching the proposal by the Federal Government through the BPE for the privatisation of the 10 NIPPs.
For instance, the BPE assured prospective power investors in July this year that five of the National Integrated Power Plants put up for sale would go on as planned despite calls for its suspension by the House of Representatives.
In response to this, the National Petroleum Company (NNPC) had submitted Expression of Interest to the BPE to acquire the five NIPPs though the NNPC Gas and Power Investment Company Limited.
The House also mandated its Committees on Power; and Privatisation and Commercialisation to investigate the planned sale of the plants.
But the BPE later in July said the Federal Government was determined to resuscitate the power plants and put them to full use to meet the electricity needs of the people and growth of the nation, and as such would privatise them.
