The National Council on Privatization (NCP) and the governing board of the Niger Delta Power Holding Company (NDPHC) have approved Friday for the opening of the financial bids of the 42 pre-qualified bidders out of 66 bidding consortia for the 80 percent equity in the 10 National Integrated Power Project (NIPP) power plants. The NCP, rising from its third joint meeting on February 28 had directed that the bids be opened on the scheduled date in keeping with the published timeline for the transaction. The joint meeting, which was chaired by Vice President Mohammed Namadi Sambo affirmed that 42 bidders which had been pre-qualified met the criteria set forth in the requests for proposal (RFP) and passed the due diligence verification conducted on technically qualified bidders. The NIPP Privatization is a joint transaction between the NCP and the Governing Board of NDPHC. The 10 plants are jointly owned by the three tiers of government; local, state and federal governments with the Federal Government contributing 47 percent equity stake and the local and state governments with the remaining 53 percent equity.
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