Sambo, others to hand over to firms

Vice President Namadi Sambo will hand over
the physical assets of 14 PHCN Successor
Companies to their new owners tomorrow.
The event, the Bureau of Public Enterprises
(BPE), said will take place simultaneously at
the headquarters of the companies across the
country where the Vice President will be
represented by Ministers and other top
government functionaries.
It however noted that, Sapele Generation
Company (SGC) will not be affected because of
the comprehensive legal review of the status of
the company following the failure to complete
payment by the preferred bidder.
The companies to be handed over and their
new owners are: Abuja Distribution Company
(KANN Consortium Utility), Benin Distribution
Company (Vigeo Power Consortium), Eko
Distribution Company (West Power & Gas),
Enugu Distribution Company (Interstate
Electrics Ltd) and Ibadan Distribution Company
(Integrated Energy Distribution & Marketing
Ltd).
Others are; Ikeja Distribution Company (NEDC/
KEPCO Consortium), Jos Distribution Company
(Aura Energy Limited), Kano Distribution
Company (Sahelian Power SPV Ltd), Port
Harcourt Distribution Company (4Power
Consortium) and Yola distribution Company
(Integrated Energy Distribution & Marketing
Ltd).
The Generation Companies are: Shiroro (North-
South Power Company), Kainji (Mainstream
Energy Solutions Ltd), Geregu (Amperion Power
Distribution) and Ughelli (Transcorp Ughelli
Power Plc).
Top government functionaries who will
represent the Vice President at the various
hand over venues are: Minister of Power, Prof.
Chinedu Nebo (Abuja), Co-ordinating Minister
of the Economy and Minister of Finance, Dr.
Ngozi Okonjo-Iweala (Ibadan), Minister of
Petroleum Resources, Mrs. Deziani Alison-
Madueke (Enugu), Minister of Trade &
Investment, Mr. Olusegun Aganga (Eko),
Minister of Transport, Senator Idris A. Umar
(Kainji/Jebba) and Attorney General of the
Federation & Minister of Justice, Mr.
Mohammed Bello Adoke- SAN (Yola).
The others are; Minister of Mines & Steel
Development, Mohammed Musa Sada (Kano),
Minister of Information, Labaran Maku (Jos),
Minister of Labour, Chief Emeka Wogu (Ughelli)
and Minister of State (Works), Amb. Bashir
Yuguda (Shiroro). The rest are; Director General
of BPE, Mr. Benjamin Ezra Dikki (Ikeja & Egbin),
Permanent Secretary, Ministry of Power, Dr.
Godswill Igali (Port-Harcourt), Chairman,
Presidential Task Force on Power, Engr.Beks
Dagogo-Jack (Benin) and Group Managing
Director of NNPC, Mr. Andrew Yakubu (Geregu).
Of the 14 successor companies scheduled for
handover, a total of US$2, 525,824,534 was
realised as proceeds. Out of the amount, US
$1,256,000,000.00 came from the Distribution
Companies (DISCOs) while the Generation
Companies (GENCOs) raked in US$1,
269,824,534.