State governors on Thursday declared that they would review the Federal Government’s proposed privatisation of 10 power generating plants under the National Integrated Power Projects.
Describing the 10 NIPP plants under the management of the Niger Delta Power Holding Company of Nigeria, as “critical national assets,” the governors said they had resolved to assess the plan to privatise the facilities.
State governments own 53 per cent share of the NIPPs, while the Federal Government owns the remaining 47 per cent. In a communique issued at the end of the 36th teleconference meeting of the Nigeria Governors’ Forum, signed by the NGF Chairman, Governor Kayode Fayemi, and obtained in Abuja on Thursday, the governors said the proposed NIPPs privatisation would be reviewed.
The communique read in part, “On the proposed privatisation of the 10 generating plants located across the country under the National Integrated Power Projects, members received a detailed presentation by the Director-General of the Bureau of Public Enterprises, Alex Okoh.
“And resolved to review and communicate through their board representatives, their assessment and position on the privatisation of what they consider critical national assets. “States currently own a total of 53 per cent equity in NIPPs, while the Federal Government owns a 47 per cent stake.”
