There are indications that the federal government is in the process of selling five power plants under the National Integrated Power Projects (NIPP).
The sale, which is to be done through the Bureau of Public Enterprises (BPE) is said to be at a cost of about $1.15 billion,
The five power plants are the 434 megawatts gas-fired Geregu II power plant, located in Kogi; 451MW Omotosho II plant in Ondo; 750MW Olorunshogo II plant in Ogun State; 563MW Odukpami power plant in Calabar, Cross River State; and 451MW Benin-Ihovbor plant in Edo State.
In December 2022, it was reported that the federal government and the 36 state governors had agreed to sell the five power plants and use the proceeds to fund the 2023 budget.
A former director-general of BPE, Alex Okoh, had disclosed the agreement between the federal government and the states regarding the NIPP plants to journalists in Abuja during an interview.
Parties in the deal were said to have reached the agreement in December, after over two years of disputes and legal tussle as regards the sale of the NIPP plants being managed by the Niger Delta Power Holding Company.
The NDPHC, owned by the federal, state, and local government councils, is a power generation and distribution company that oversees the implementation of the NIPPs.
