Nigeria in the news: Privatisation of Power Holding Company of Nigeria (PHCN)

ABUJA: As reported in the Economic Times, the Indian conglomerates Essar and the Tatas are among the entities shortlisted by the Nigerian authorities for privatisation of firms created out of Power Holding Company of Nigeria.

What will be the immediate impact when international players buy stake in the Nigeria Power Company? Job placement agencies providing Africa recruitment services will be assigned to search for suitable candidates for related jobs in Nigeria.

Nigeria has potential and a growing economy. It’s not surprising then that, Dangote Industries, Oando Gas and Power, Honeywell Energy Resources International, Actis Infrastructure, an Essar consortium and Tata Group are prominent among the 207 companies with 525 bids pre-qualified for the next stage of privatisation of successor companies of PHCN.

These 525 bids where shortlisted from a total of 929.

PHCN, which monitors the African nation’s power sector, was split into 18 entities: six are generation companies, 11 distribution firms and one transmission entity.

Nigeria’s Bureau of Public Enterprises (BPE) is handling the process of privatisation .

BPE plans to sell the six generation companies and 11 distribution firms by way of privatisation and appoint a management contractor for the transmission firm.

Looking at the way Africa is attractive to overseas investors, this will ultimately lead to lucrative careers in Africa.

One Comment

  1. Olawale Olaniyan says:

    I have always look forward to the time that the Nigerian government will wake up to the task of empowering her citizens and at the same deliver their long due promises. Admittedly, this privatization of PHCN being embarked upon by the BPE is a right step in the right direction; this is what we have always been demanding from the past federal governments. However,to really benefit from the inherent opportunities that will accompany this process, ‘transparency’ is highly encouraged to be the watchword. All actors involved in this remarkable step of economic liberation should shun self-centered objectives but conduct all transactions in the interest of the Nigerian masses as we expectantly wait for the realization of this giant stride.

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