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BPE Hands Over Olorunsogo Power Firm To Core Investor

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The National Council on Privatisation (NCP), formally handed over the Olorunsogo Power Plc to SEPCO-Pacific Partners Ltd, bringing to 16, the total number of power assets handed over to the private sector in the last four months.

At the handover ceremony, the chairman, National Council on Privatisation (NCP) vice president Mohammed Namadi Sambo, noted that since the passage of the Electric Power Sector Reform Act (EPSRA) 2005 and the unbundling of the Power Holding Company of Nigeria (PHCN) into 18 successor companies, very little was done to advance the reform of the power sector until the coming into power of President Goodluck Jonathan which led to the enunciation of the transformation agenda of the nation’s economy.

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Mohammed Namadi Sambo, who was represented by the director-general of the Bureau of Public Enterprises (BPE), Mr Benjamin Dikki, said the reform and privatisation programme would not have been possible without the leadership, unparalleled support and commitment of the president and his team in the NCP.

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