NewStats: 3,262,624 , 8,177,721 topics. Date: Tuesday, 03 June 2025 at 05:40 AM 4oyh

The remaining 10 Nigerian National Integrated Power Projects (NIPP) are to be privatised this year by the Bureau of Public Enterprises (BPE) as part of efforts by the Federal Government to boost power supply for Nigeria’s industrial expansion vision.

Also slated for privatisation is the Nigerian Government-owned Satellite Communications company, NigComSat, to make it more competitive.

Already, a committee to prepare the NIPPs privatisation transaction has been put in place with the target of the completion of the task billed for this year, while handover of the NIPPs to the successful investors is projected for the first quarter of next year.

Director-General of the BPE, Mr. Alex.O Okoh, revealed the government’s plan yesterday in Abuja at the g of a Memorandum of Understanding (MoU) with an infrastructure credit enhancement firm, InfraCredit, for the guarantee of a longer tenor credit of up to 15 years for prospective investors in the NIPPs.

The aim is to de-risk the power sector investment and attract competent investors to avoid the pitfalls of the power sector privatisation bedevilled by epileptic service delivery arising from short tenor financing.

According to Okoh, InfraCredit has committed to guarantee as much as N300 billion of financing for the power divestment transaction to investors and believes the development will boost the much needed sound corporate governance culture that would ensure investible resources and create sustainable value for the economy.

“In this regard, InfraCredit intends to partner with the Bureau to de-risk the financial environment, especially with regards to power sector investments. They have a target of achieving N300 billion worth of investments deals within three years,” Okoh revealed.

Speaking at the g ceremony, the Managing Director of InfraCredit, Mr. Chinua Azubike expressed his firm’s delight to be associated with de-risking Nigeria’s financial sector, aimed at assisting it to perform its mandate in Nigeria.

Azubike said his firm, a triple ‘A’ rated guaranteed company, is owned by the Nigerian Sovereign Investment Agency (NSIA) and equally backed by GuarantCo, a private infrastructure development Group; KfW Development Bank and the African Finance Corporation.

According to him, InfraCredit has already played a major role in guaranteeing credit for investment with the pension funds in Nigeria among other interventions.

It could be recalled that the NIPPs project was conceived in 2004 under the istration of former president Olusegun Obasanjo. It was formed to address the issues of insufficient electric power generation and excessive gas flaring from oil exploration in the Niger Delta region. Seven power plants were designed in gas-producing states as part of the project.

Planned power plants included Ihovbor Power Station Benin, Edo State with the capacity of 4 x 112.5 MW (ISO 126 MW); Calabar Power Station, Cross River State with the capacity of 5 x 112.5112.5 MW (ISO 126 MW); Egbema Power Station, Imo State with the capacity of 3 x 112.5 MW (ISO 126 MW); Gbarain Power Station, Yenagoa, Bayelsa State with the capacity of 2 x 112.5 MW (ISO 126 MW); Sapele Power Station, Delta State with the capacity of 4 x 112.5 MW (ISO 126 MW); Omoku Power Station, Rivers State with the capacity of 2 x 112.5 MW (ISO 126 MW); and Ikot Abasi Power Station, Akwa Ibom, with the capacity of 2 x 112.5 MW (ISO 126 MW) (replaced later by Ibom Power Station).

Together, the projects generated contracts worth $414,000,000 for the supply of turbines and electricity generation equipment to General Electric (GE). The primary turbine is GE 9E gas turbine with a nominal ISO rating of 126MW. After adjusting for site conditions, the capacity was set to 112.5 MW. The plants are low efficiency simple cycle but have provision for future extension to combined cycle
istration changes in 2007 interrupted funding for more than two years.

The NIPP projects includes 11 power plants and 4 FGN Power Stations: Alaoji Power Station, Abia State, combined cycle plant with the capacity of 4 x 112.5 MW (ISO 125 MW) and 2x steam 255 MW;
Omotosho II Power Station, Ondo State, with the capacity of 4 x 112.5 (ISO 125 MW); Olorunsogo II Power Station, Ogun State, combined cycle plant with the capacity of 4 x 125 MW and 2 x steam 125 MW; and Geregu II Power Station, Kogi State, with the capacity of 434 MW.

Following the Afam V and Geregu I plants, Geregu II is now the third gas-turbine power plant to be constructed by Siemens in Nigeria as a turnkey project and completed on schedule. The scope of delivery supplied by Siemens for Geregu II included three SGT5-2000E gas turbines, three SGen5-100A generators, as well as all the electrical systems and the SPPA-T3000 control system.

The Ikot Abasi NIPP power plant has been replaced by Ibom Power, which is a 190 MW project of the Akwa Ibom State Government. The revised project involves large-scale transmission projects across all of Nigeria, which are crucial to ensure power distribution from generation plants to final customers.

https://m.guardian.ng/news/bpe-set-to-sell-10-nipps-nigcomsat/

President Buhari is really working hard to make life easier for the poor. May God bless him and give him good health to drive us to the next level of success. On behalf of we Nigerian Christians, I say Thank you Buhari for your good works.

GoTv u try oo. U just willingly ruined my chance of making it to FTC!

The thieves are around again!!!!!

Nigcomsat should NOT be sold! Anybody that want to invest in that field should buy and send satelites up! Objectives of setting up Nigcomsat will be defeated if it is sold! Such that we will have to set it up again if it is sold

Front Page

NigComSat is a useless organization for these two reasons, and needs to be privatized

First, during my interview with them few years back, the only question they deemed fit to ask me was, Who do you know? Do I know any Senator or HOR member?. That's what made me not to get that job.

Secondly, after spending millions of dollars to launch (so we thought) a satellite, they told us it has disappeared in space. Can you imagine? Since inception of NigComSat, what have they achieved?

Nonsense

Very soon they would start to say SOMEONE wants to put Nigeria on Alibaba.....


[s]

GoTV:
President Buhari is really working hard to make life easier for the poor. May God bless him and give him good health to drive us to the next level of success. On behalf of we Nigerian Christians, I say Thank you Buhari for your good works.

[/s]

Ok

You guys should sell everything and give us our own shares.

Selling our properties to themselves.....







Anyway I am enroute to Morocco

It is well.

tinubu go de smile now

same privatization they accused atiku of

People said Atiku will sell to his friends . Which istration has not been selling? Atiku's mistake was saying it during campaign. Politicians will always be polithiefians. Put a saint in Aso Rock and after a short while you will wonder where the saint went?

See them showering praises on the presidency.. But when Atiku said same; all hell let loose...

Don’t sell nigcomsat!!! It’s a wrong move

kk

You mean nipples?

So they want to sell Infrastructures to their cronies and friends abi? Same thing they accused Atiku of.

Hypocrisy

If not that we have so many bad heads in the system..
We are all looking for avenues to continue to take from the masses.. the rich re getting richer...

Whether privatize or not...

The end result is the same thing.

Ask PHCN What have they achieve since it was privatized?


Nigeria as lost it... Long before now..

Make we look for Chinese investors

Nigcomsat has been under utilized over the years, privatization may help it reach full potential.

lonelydora:
NigComSat is a useless organization for these two reasons, and needs to be privatized

First, during my interview with them few years back, the only question they deemed fit to ask me was, Who do you know? Do I know any Senator or HOR member?. That's what made me not to get that job.

Secondly, after spending millions of dollars to launch (so we thought) a satellite, they told us it has disappeared in space. Can you imagine? Since inception of NigComSat, what have they achieved?

Nonsense

They can pin point the location of the Satellite in space, they are only hiding it and this is why it is easily hacked and used by any individual or group that know were to look for it. Satellite are needful but yet very dangerously scary because when you put them under the control of a die-hard adult child, they will just use it to extract ultra violet rays from space to dry-clean any target of their choice or even shoot them down automatically... That is why it is a trap all together... The universe is always grouping people every time, tests them and monitor who would possess leadership skills the same way you see it in gulder ultimate, big brother Nigeria etc etc were they put things in random location and watch who would take it and make use of it, the same way the satellite. Everything in life is free

GoTV:
President Buhari is really working hard to make life easier for the poor. May God bless him and give him good health to drive us to the next level of success. On behalf of we Nigerian Christians, I say Thank you Buhari for your good works.

Mumu
Your definition of 'working hard' means selling off Power Stations built by past presidents, abi?

Why can't he build his own?

By the way, Gas supply (not ownership) is the reason some of those power plants have remained idle
since their completion in 2013

FG should first, connect them to sources of gas supply.






Anyway, thank you GEJ and OBJ for a job well done

lonelydora:
NigComSat is a useless organization for these two reasons, and needs to be privatized First, during my interview with them few years back, the only question they deemed fit to ask me was, Who do you know? Do I know any Senator or HOR member?. That's what made me not to get that job.
Secondly, after spending millions of dollars to launch (so we thought) a satellite, they told us it has disappeared in space. Can you imagine? Since inception of NigComSat, what have they achieved?
Nonsense

Sorry about your experience. I think the reason why the organization is not profitable is due to nepotism and man-know-man syndrome

chozzy:

Mumu
He's working hard by selling off Power Stations built by past presidents?
Why can't he build his own?
Anyway, thank you GEJ and OBJ for a job well done

The APC government is a scam from the scratch

mfm04622:
The thieves are around again!!!!!

Nigcomsat should NOT be sold! Anybody that want to invest in that field should buy and send satelites up! Objectives of setting up Nigcomsat will be defeated if it is sold! Such that we will have to set it up again if it is sold

Which rubbish objective are you talking about? A cesspool of corruption! Those who ripped off the organization are chilling with their loot. Once its sold it gives room for competent hands to run the organization.

Nukilia:

Sorry about your experience. I think the reason why the organization is not profitable is due to nepotism and man-know-man syndrome

Exactly. NigComSat is an organization you hardly see people wearing suits. Kaftan with hausa cap id the dress code. Official language is Hausa. No one speaks English there. Everywhere is filled with aboki

Hmmm

Hmmmm

lonelydora:


Exactly. NigComSat is an organization you hardly see people wearing suits. Kaftan with hausa cap id the dress code. Official language is Hausa. No one speaks English there. Everywhere is filled with aboki

Just not to sound tribal, I understand you perfectly! That's the root cause of the nations problem.