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Tuesday, November 17, 2020

Federal Govt Of Nigeria To Sell Three Power Plants For N434Billion

 

...Investors to take over Geregu, Omotosho, Calabar plants 
....Lagos, Abuja, Jos, PH stadia to be concessioned. The Federal Government has revealed that it was making arrangement to sell Geregu, Omotosho and Calabar power plants for N434 billion in 2021. The government also hinted of its plan to concession National Art Theatre, Tafawa Balewa Square and all the River Basin Development Authorities at N836

million. Similarly, the federal authorities said that it would concession the National Stadium, Lagos; Moshoo

Abiola Stadium, Abuja; Jos International Stadium and Adokiye Amiesimaka Stadium in Port Harcourt at N100 million each.

These proposals were contained in a document presented by the Bureau of Public Enterprises (BPE), to the Senate during a budget defence session in Abuja. According to the breakdown, Geregu power plant, which it was learnt was constructed at the cost of $10 billion, would be sold for N140.7 billion, Omotosho Power Plant will go for N151.4 billion and Calabar Power Plant to be sold for N143.4 billion.

The document further revealed that the proceeds of the three power plants would be paid into Niger Delta Power Holding Company (NDPHC). Also, while the National Art Theatre will be concessioned for N200 million, Tafawa Balewa Square will be concessioned for N436 million and all the River Basin Development Authorities will go for N200 million.

However, the BPE is expected to appear before the Senate Committee on Privatization and Commercialization to elucidate on the details and its revenue projection in 2021, which consists of sales of power plants and concession of government-owned properties.

GUYS, WHAT DO YOU THINK? 
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Sesugh Robert Shekua

Why Not Sale The Whole Country And Share Money Even If It's 1500 I Will Manage

Ugwuanyi Kenneth

Hahahaha please even me to USA

Onwordi Richard Ify Akachukwu

Most likely to China ..

Victor Stephen

Nigerian leaders why?????

Balami Joda

Nigeria is up for sale

Kunle Tunbosun

🤦🤦🤦 the company u selling this to, would now come up and revive the plant, make profit and maybe just maybe make power supply lil better than the Govt, isnt it a shame Nig Govt doesn't know how to manage anything

Nelson Felix

These idiots want to pay thier debt by throwing us further into the mud .. God help muted and empoverished Nigerian youths who don't want to grow up and take responsibility on time before dis animals sell even naija join ..

Gabriel Ose Emmanuel

What they wanted to kill Atiku for...he want to use that money to pay Senate salaries

Kenneth Onyebuchi

Truly Nigeria is moving forwards and Buhari is working. But one deceit is that the proceeds will be paid into NDPHC, the truth is that the proceeds will be paid into the stomachs of Buhari and his friends.

Rasheed Alao

We have started feeling the indebtedness this Government has plunged the Country into
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