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19 Investors conduct due dilligence on Afam Power, Yola DISCO

Nineteen prospective investors are currently conducting due diligence on Afam Power Plc and Yola Electricity Distribution Company.

While seven of the companies are currently examining the data on Afam Power Plc, twelve are examining the data and assets of Yola Electricity Distribution Company in order to determine what exactly is on offer for sale by the Federal Government. Director of Energy at the Bureau of Public Enterprises, Mr Yunana Malo, confirmed the development in a telephone interview.

The privatisation agency had said that it planned to realise N400bn from the sale of the two power companies that were carved out from the defunct Power Holding Company of Nigeria and a few other assets to fund the 2018 budget.
Malo said that the plan to realise such an amount of money from the sale of the two companies and a few other ones was sufficient proof that there was no plan to dispose of the power generating company for scrap.

Source: The Punch

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Olusegun Fayose

Olusegun Sunday Fayose, founder of RovingNaija.com is a Marketing Communication executive with experience in Corporate Communication, Public Relations, Branding and Advertising. He is also a seasoned media professional with roots in print, broadcast and online journalism. Segun, who last managed the Group Corporate Communication function of MultiChoice Nigeria, is upbeat that through responsible, fair, accurate and courageous reporting; and the support of readers, followers and patrons, Nigeria takes a step closer to a regime of accountability, fairness and equity in governance.

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