State governors in Nigeria have declared that they would review the Federal Government’s proposed privatisation of 10 power generating plants under the National Integrated Power Projects, (NIPP).

Describing the 10 NIPP plants under the management of the Niger Delta Power Holding Company of Nigeria, as “critical national assets,” the governors said they had resolved to assess the plan to privatise the facilities.

State governments own 53 per cent share of the NIPPs, while the Federal Government owns the remaining 47 per cent.

In a communiqué issued at the end of the 36th teleconference meeting of the Nigeria Governors’ Forum, signed by the NGF Chairman, Governor Kayode Fayemi, and obtained in Abuja on Thursday, the governors said the proposed NIPPs privatisation would be reviewed.

The communiqué read in part, “On the proposed privatisation of the 10 generating plants located across the country under the National Integrated Power Projects, members received a detailed presentation by the Director-General of the Bureau of Public Enterprises, Alex Okoh.

“And resolved to review and communicate through their board representatives, their assessment and position on the privatisation of what they consider critical national assets.

“States currently own a total of 53 per cent equity in NIPPs, while the Federal Government owns a 47 per cent stake.”

There had been diverse positions as touching the proposal by the Federal Government through the BPE for the privatisation of the 10 NIPPs.

In July this year, for instance, the BPE assured prospective power investors that five of the National Integrated Power Plants put up for sale would go on as planned despite calls for its suspension by the House of Representatives.

Also, documents sighted in Abuja at the time showed that the Nigerian National Petroleum Company had submitted Expression of Interest to the BPE to acquire the five NIPPs though the NNPC Gas and Power Investment Company Limited.

On July 1, 2021, it was reported that the House of Representatives asked the Federal Government to suspend the plan to sell the NIPPs owned by the Niger Delta Power Holding Company Limited until the lingering issues on the ownership of the firm were resolved.

The House also mandated its Committees on Power; and Privatisation and Commercialisation to investigate the planned sale of the plants.

But the BPE later in July said the Federal Government was determined to resuscitate the power plants and put them to full use to meet the electricity needs of the people and growth of the nation, and as such would privatise them.

PUNCH