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The privatization agency in Africaâs largest economy plans to sell or allow private investors manage 36 state-owned assets to boost government revenues that has come under pressure from lower oil earnings.
Two free economic zones in the nothern city of Kano and Calabar in the oil region as well as power generation assets are among assets marked for sale, Alex Okoh, director-general of the Bureau of Public Enterprises said on Tuesday.
The power plants have the capacity to add 3,300 megawats to the nationâs electricity generation, while the economic zones will boost export earnings by about $2 billion over the next five to seven years, Okoh said.
Nigeria to Sell 36 Assets to Boost Revenue as Oil Earnings Fall bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The Minister of Power, Engr. Sale Mamman had stated in April when he received the management team of the contractor, China Gezhouba Group International Engineering Company and its Vice President, Mr Yuan Baoyi, that the project is also hindered by the legal disputes between the former contractor, Sunrise, with which the government was finalising settlement terms so that the project can continue.
Sunrise Power Transmission Company of Nigeria Ltd (SPTCL), a promoter of the project, in May filed a $400 million compensation claim against the Federal Government of Nigeria (FGN) for failing a settlement term, which the minister was referring to.
Training for rail travel – all aboard! txfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from txfnews.com Daily Mail and Mail on Sunday newspapers.
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The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has urged the Southern Governors Forum to zone the 2023 Presidency to the South-East in the interest of fair play and justice.
Spokesman for the Ohanaeze, Chief Alex Ogbonnia, who said the group, backed the southern governors’ position that the region should produce the President in 2023, said the region must be magnanimous in conceding to South-East the Presidency.
The governors had met on Monday in Ikeja, Lagos State on the state of the nation.
The meeting came eight weeks after their last meeting in May 11, 2021, in Asaba, Delta State, where they banned open grazing and advocated restructuring, among others.