Abuja - James Olotu, the Managing Director,
Niger Delta Power Holding Company Ltd. (NDPHC), has assured the nation
that no power plant will be handed over to the private investors
Olotu gave the assurance on Wednesday in Abuja to newsmen at a
Transaction Review Conference with relevant stakeholders and private
He said that part of the process as stipulated in the contract was
that all power projects must have been duly completed before any handing
over would be done.
The managing director added that government was fully committed to
ensuring that it met with the dates stipulated for the handing over.
"However, before handing over, every power plant will be completed
and fit for the purpose intended in line with how the contracts were
"The completion of the power plant will not hinder the privatisation process in any way.
"The reason why we are doing due diligence by the bidders is for them to go and see that there is nothing hidden.
"Let them go and see the level of completion, appreciate it, talk to
the engineers, the contractors, the project consultants and field
"The investors will decide on their own if they are sure the power plant is completed.
"We have a timeline that by June next year, all the power plants will be handed over,” he said.
Reacting to requests by some of the investors for an extension of
date for the submission of bid, Olotu said that the extension was
subject to the decision of the government.
He stressed that no matter the level of extension of date some
contractors would still not be ready, adding that government would only
deal with the serious ones.
"Examination time is examination time, there is no time that you set for an examination that all the students will be ready.
"Some wish it extended, some are ready, some think that is should not even hold.
"This programme will hold; we have listened carefully to all the issues.
"We will go back to our principals and tell them what we have heard
and we would come back to advise them if there will be an extension,” he
Olotu said that the impact of the whole process was already being
felt by Nigerians, stressing that as more power units were completed,
they would be added to the grid.
He said that once the process was completed, Nigerians would be the better for it.
"Nigerians are already feeling the improved power supply from the
available plants, but we are adding more units every day; as more units
are completed, they are put into the system.
"Full capacity and availability of power will come with the
privatisation; power supply is big business and it is best handled by
the private sector.
"The issue of gas not available sometimes is because government is the same person running the gas and the transmission.
He said that by the time the whole system was private-sector-driven,
issues of non-availability of gas would not arise, adding that gas
suppliers would ensure adequate supply of the product and make profit.
Olotu said that at the end of the process, Nigerians would be able to
reap the real benefit of competition and best business practice just
like the telecommunication industry.