The Director General of the Bureau of Public Enterprises (BPE), Mr. Benjamin Dikki has assured Nigerians that power supply in the country will improve when the private investors take over.
In a statement by the Bureau Head Public Communications, Chigbo Anichebe, the DG expressed confidence that the introduction of sound maintenance culture would ensure that the current installed capacity of 6000 megawatts is exploited and put on the national grid, stressing that that alone would stabilize power supply.
Mr. Dikki appealed that the investors be given time to increase capacity as “they (investors) will after take over, re-tool and bring in new machinery like turbines which are not easily bought off the shelf to put power on proper footing”.
The Director General noted that the investors would need time to re-tool after take over, between a period of two- three years to bring in the required machinery after which the country would witness increased and steady power supply.
He announced that by October 2013, the new investors were expected to fully take over after paying the balance of 75% bid price since they had earlier made the mandatory 25% payment.
The DG said any investor that was unable to pay the 75% bid balance within six months from the date the mandatory 25% bid payment was made, would be penalised. He however expressed the confidence that all the investors were serious businessmen who have the required financial muscle to pay the bid price.
He allayed fears of monopoly by the investors as the necessary framework and institutional checks had been put in place to regulate their activities and appropriate pricing.
Mr. Dikki also said the Bureau was working in tandem with the transformation agenda of the present administration to transform the agriculture and transportation sectors in the country through the privatisation of the Abuja Securities and Commodity Exchange (ASCE) and the setting up of a regulatory body in the transport sector.
“When privatised, ASCE will ensure appropriate and stable pricing for all agricultural produce and warehousing while the setting up of Nigerian Transport Commission (NTC) will regulate activities in the transport sector”, he added.
He noted that Nigeria’s investment drive was high as foreigners were willing to do business in the country.
The DG however appealed to all Nigerians to make the country conducive enough to continue to attract direct foreign investments.
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