Nigeria concludes the sale of five power plants for $1 billion, aiming to boost revenue and efficiency. The bidding process, overseen by the Ministry of Power, involves assets jointly owned by the government.
In a landmark move, the Nigerian government has successfully concluded the sale of five power plants, generating a staggering $1 billion in revenue.
Spearheaded by the Ministry of Power, the bidding process was meticulously overseen by a technical committee chaired by Babatunde Sanwolu, the governor of Lagos state.
This significant development marks a pivotal step forward in revitalizing the nation's energy sector, addressing longstanding challenges, and fostering economic growth.
The sale of these power plants, built under the National Integrated Power Projects, underscores the government's commitment to leveraging public-private partnerships for sustainable development.
With assets spread across Kogi, Ondo, Ogun, Cross River, and Edo states, the sale is poised to not only bolster revenue streams for all levels of government but also enhance operational efficiency in the power sector.
This strategic initiative aligns with broader efforts to modernize infrastructure, attract foreign investment, and propel Nigeria towards energy self-sufficiency.
