Final agreement has been reached between the federal government and the 36 governors of the states to sell five power plants as part of the National Integrated Power Projects and use the proceeds to pay for the 2023 budget.
After more than two years of disagreements and legal wrangling over the sale of the NIPP plants run by the Niger Delta Power Holding Company, the parties to the deal came to an agreement.
Okoh explained that the procedure was being followed meticulously in response to questions about the Federal Government’s directive requiring banks to sell off the 60% of the five discos that they recently acquired.
“However, the government, which owns 40% of all of these discos, has realized that banks are not utility or Disco operators, then gave the directive that they (banks) must exit the ownership of those shares in a maximum period of 12 months.
The BPE boss revealed that a investor was set to take over Abuja Disco, as work was still ongoing on the remaining four Discos.