BPE briefs presidency on takeover of Kaduna, Kano, 2 other DISCOs
by Ebor Cletus Ralph Jr
The National Council of Privatization (NCP) was given a briefing on the acquisition of Kaduna and three other power distribution firms on Sunday by the Director-General of the Bureau of Public Enterprise (BPE), Alex Okoh.
Okoh spoke at the NPC’s virtual meeting that was being watched in Abuja, according to a statement made by Laolu Akande, the Vice President’s Senior Special Assistant on Media and Publicity.
Zainab Ahmed, the minister of finance, budget, and national planning, attended the meeting in place of vice president and NCP chairman Yemi Osinbajo.
The other three distribution firms are located in Port Harcourt, Ibadan, and Kano.
Okoh noted that while the challenge to the takeover of Benin DISCO was being resolved, the takeover of the four companies had been completed effectively.
He also briefed the NCP on the concession of the Zungeru Hydroelectric Power Plant and asked the council to note steps taken by the BPE to fast-track the process.
The BPE chief presented for approval, a proposal to amend the bureau’s procedures manual.
Fidelity Bank took over the management of the four DISCOs and appointed new board members in July.
In a statement issued at the time, the BPE described Fidelity Bank’s takeover of the DISCOs as a “contractual and commercial intervention” toward their restructuring.
