Nigeria hands over electricity assets to 15 private firms

Engineering News 23 April 2013.

Nigeria’s President Goodluck Jonathan signed deals on Monday handing over state electricity assets to 15 bidding companies, a milestone in a privatisation process meant to end decades of power blackouts.

The handover in a ceremony at the presidential residence came a month after the bidders for 10 generation companies and five distribution companies paid deposits of 25% of the value of their bids.

Nigeria’s dysfunctional state electricity provider is being broken up into 15 firms handling generation or distribution in different parts of the country, with the aim of doing something no Nigerian president has managed for decades: switching the lights on.

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