The remaining two Distribution Companies, Afam1 Generating Company and the Kaduna Distribution Company have been handed over to their respective owners.
Taleveras and NorthWest Power Company had emerged preferred bidders for both companies after meeting the requirement by the Bureau of Public Enterprises (BPE).
It would be recalled that the National Council on Privatisation (NCP) had on November 1, 2013, handed over all the Power Holding Successor Companies (PHCN) except Afam1 Genco and Kaduna Disco.
Speaking at the handover ceremony, the Director General, BPE, Mr. Benjamin Dikki assured that government will continue to provide the enabling environment for the businesses to thrive.
“Today, we are makiing history because this is the conclusion of the privatisation of the PHCN successor companies.”
Mr. Dikki disclosed that the financial bid opening for the National Independent Power Plants (NIPPs) would be carried out in January.
According to the DG, the signing ceremony is not an indication that government investment has concluded investment in the sector.
He said: “Once that is concluded, we would have come to a situation where the power sector is completely in the private sector hands.
“But of course that does not foreclose government’s investment in the power sector as is been comtemplated for Mambilla Hydro Dam, Shiroro and Zungeru. Government will continue to play a role in the power sector until we reach a situation where we have sufficient power to drive economic growth of thIs country.”
He urged Taleveras and NorthWest to do “everything it takes to ensure that the people enjoy the benefit of your investment.”
In his acceptance speech, Chairman, NorthWest Power Limited, Mr. Yusuf Abubakar assured of the company’s commitment to meeting all its obligation under the performance agreement and also the share sales agreement.
Mr. Abubakar while acknowledging the challenges of the sector said Northwest Power company will strive to surmount the challenges.
“We know the enormityofthe task for turning around the Kaduna Distribution Company, we know the challenges in tHe power sector but we are also very committed to transforming the company into a world class distribution company that will serve our people and the constituent of Kaduna distribution area.”