- The planned privatisation of the 10 power plants built by the Federal Government under the National Integrated Power Project (NIPP) through the Niger Delta Power Holding Company (NDPHC) Limited is currently faced with uncertainty as bidders have begun to withdraw their bid bonds.
- According to a source, most of the bidders have apparently withdrawn their bid bonds as the project has more than enough challenges confronting it including legal and financial issues.
- The NDPHC, it was gathered is reeling in debt as the Federal Government is owing it over N64 billion. Also, lack of gas to the power plants has not helped matters also. If there was gas, the plants could have been in full commercial operation, the source added.
- The source said until these issues were resolved, there is no way forward for the sale of the power plants and commencement of new investment under NIPP Phase II in which the organisation would invest in transmission infrastructure, large hydro power plants including Mambilla, Gurara II and 10 other small hydro power plants.
Source: The Nation
