The National Council on Privatisation, on Thursday, in Abuja, approved the appointment of Mainstream Energy Solutions Limited as the preferred bidder for the concession of the Zungeru Hydroelectric Power Plant.
This followed the presentation of a memo by the Director General of the Bureau for Private Enterprises, which serves as NCP Secretariat, Mr. Alex Okoh, seeking the Council’s approval of Mainstream Energy Solutions Limited as the preferred bidder in the concession of the Zungeru HydroElectric Power Plant.
Okoh revealed that Mainstream Energy Solutions Limited was chosen among 11 other companies after a technical evaluation of the bids by the Bureau and other stakeholders.
According to a statement signed on Thursday by the Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, Council members approved BPE’s recommendations at the NCP’s second meeting for 2023 which held at the Presidential Villa on Tuesday.
The statement is titled ‘National privatization council approves preferred bidder for Zungeru hydroelectric power concession.’
Therefore, the council approved the commencement of the process of negotiations and the execution of the concession agreement with Mainstream Energy Solutions Limited.
It also Council also approved, on the request of the BPE, the sale of a property located at Nos. 3-5 Moloney Street, Lagos—belonging to defunct NITEL/MTEL and housing the Nigerian Postal Service—to the Lagos State Government for the sum of N2.5bn.
The NCP also directed the BPE to conduct a nationwide audit of NIPOST properties to ascertain their current state and identify any forms of encroachment on them.
Last December, the NCP had approved N1.37bn for the settlement of outstanding redundancy benefits owed the workers of the ex-workers of the aviation ground handling service provider, Skyway Aviation Handling Company Plc.
Chaired by Vice President Yemi Osinbajo, the National Council on Privatisation oversees the privatisation and commercialisation of public enterprises.
Members who attended Tuesday’s meeting include the Minister of Finance, Budget & National Planning, who is also the Vice Chair, Mrs Zainab Ahmed, Ministers of Power, Abubakar Aliyu; Water Resources, Suleiman Adamu; Industry, Trade and Investment, Niyi Adebayo; Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, among others.
