Federal Government has decided to sell 80 per cent stake in each of the 10 independent power generation plants built by the Niger Delta Power Holding Company.
Plans have also been concluded for a road show in Lagos, United States, United Kingdom and Hong Kong with the aim of attracting investors into the Nigerian power sector.
The NDPHC, which is jointly owned by the three tiers of government, has the mandate to build 10 independent power plants to generate 5,000 megawatts of electricity.
The Managing Director, NDPHC,James Olootu, said during a press conference in Lagos on Saturday that the privatisation process for the power plants would begin in August this year and would be concluded in 2014.
Olootu stated that the Board of Directors NDPHC headed by Vice-President Namadi Sambo, had recommended the sale of the plants to President Goodluck Jonathan, who approved the recommendation.
He recalled that the power company was in 2005 given a mandate to build 10 independent power plants, adding that the mandate had been achieved, hence the privatisation plan.
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