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Published On: Fri, Sep 28th, 2018

19 firms jostle for Afam Power, Yola Disco

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By Ese Awhotu

The Bureau of Public Enterprises has disclosed that 19 firms had indicated interest to acquire Afam Power Company and the Yola Distribution Company put up for sale by the Federal Government.
Head, Public Communications of BPE, Amina Othman in a statement released in Abuja yesterday, said at the close of the submission of bids for the Expression of Interest for the two power companies, seven firms were interested in Afam while 12 submitted for Yola Disco.
According to the statement, within the period allowed for Expression of Interest which ended on Tuesday, 19 firms had indicated interest to buy a majority stake in the two power firms.
Tukur stated that some of the companies that submitted Expression of Interest for the two companies were renowned players in the power industry.
It would be recalled that although Yola Distribution Company was successfully privatised and handed over to the core investor in 2013, a force majeure was declared in 2015 by the core investor, citing insecurity in the North-East region of the country.
Following this, the company was duly repossessed by the Federal Government.
The transaction for Afam Power Generation Company on the other hand fell through due to the delay in signing the Gas Supply Agreement (GSAA) and the Gas Transportation Agreement (GTA).
In 2017, the National Council on Privatisation (NCP) gave approval for fresh transaction to privatise the two power companies.
On Aug. 16, 2018, the request for Expression of Interest in the two companies was published by the BPE in national newspapers.

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