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abujagirl
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Nigeria's former Vice-President, Namadi Sambo's dealings during the power sector privatization may soon be placed under scrutiny.
The dust is yet to settle over the privatisation of Nigeria’s power entities following a series of new revelations on questionable payments made to consultants.
CPCS Transcom, a Canadian firm, was paid $10 million for “advisory services” by the Niger Delta Power Holding Company (NDPHC) for the privatisation of 10 National Integrated Power Project (NIPP) plants. However, the same firm had received a far less $6.663 million for a much bigger job: the privatisation of 11 distribution companies (discos) and six generation companies (gencos) of the Power Holding Company of Nigeria (PHCN).
This was despite the fact that the PHCN privatisation was conduct before NDPHC. “It was the template that BPE used for PHCN that was adopted by NDPHC for the sale of the NIPPs, yet CPCS was paid higher for the privatisation of the 10 plants than it was paid for 11 discos and six gencos,” an insider in the know of the deals told TheCable.
Click here to read more
SOURCE: The Cable
The dust is yet to settle over the privatisation of Nigeria’s power entities following a series of new revelations on questionable payments made to consultants.
CPCS Transcom, a Canadian firm, was paid $10 million for “advisory services” by the Niger Delta Power Holding Company (NDPHC) for the privatisation of 10 National Integrated Power Project (NIPP) plants. However, the same firm had received a far less $6.663 million for a much bigger job: the privatisation of 11 distribution companies (discos) and six generation companies (gencos) of the Power Holding Company of Nigeria (PHCN).
This was despite the fact that the PHCN privatisation was conduct before NDPHC. “It was the template that BPE used for PHCN that was adopted by NDPHC for the sale of the NIPPs, yet CPCS was paid higher for the privatisation of the 10 plants than it was paid for 11 discos and six gencos,” an insider in the know of the deals told TheCable.
Click here to read more
SOURCE: The Cable
