19 firms bid for Afam Power and Yola Disco- BPE

BUREAU of Public Enterprises (BPE), says 19 firms have indicated interest to acquire the Afam Power Company and the Yola Distribution Company (YDC), put up for sale by the Federal Government.

BPE head of public communications, Amina Othman, said in a statement on Thursday that at the close of the submission of bids for the Expression of Interest (EOI), for the two power companies, seven companies submitted bids to buy Afam while 12 submitted for the Yola Disco.

Tukur said the Evaluation Committee earlier set up by the Bureau to scrutinize the bids was immediately after the expiry of the deadline, inaugurated by the Bureau’s Director of Energy, Mr Yunana Jackdell Malo to commence work.

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The request for expression of interest in the two companies was published by the BPE in national newspapers on August 16, 2018.

It would be recalled that although Yola Distribution Company was successfully privatised and handed over to the core investor in 2013, a force majeure was declared in 2015 by the core investor citing insecurity in the North-East region of the country.

Following this, the company was duly repossessed by the Federal Government.

The transaction for Afam Power Generation Company, on the other hand, fell through due to the delay in signing the Gas Supply Agreement (GSAA), and the Gas Transportation Agreement (GTA).