Nigeria Finalizes $1bn Deal for Five Power Plants.
Nigeria is nearing the completion of its plan to sell five crucial power plants for a total of $1.15 billion, marking a significant step in its efforts to revamp the energy sector and attract private investment. Led by Minister of Power Adebayo Adelabu, the bidding process has concluded, with the final report submitted to the National Council of Privatisation (NCP). The sale, expected to be announced soon, includes power plants in Kogi, Ondo, Ogun, Cross River, and Edo states. These plants, part of the National Integrated Power Projects, aim to bolster revenue and efficiency in the power sector. This initiative follows years of disputes and legal battles, with the federal government and state governors ultimately agreeing to the sale to fund the national budget. The Nigerian National Petroleum Corporation has also shown interest in acquiring some of these plants, highlighting continued progress in the sale process.
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