Reps summon finance, power ministers, others over planned sale of power plants

Reps summon finance, power ministers, others over planned sale of power plants

Sunday, July 24, 2022

James Faleke

James Faleke

The House of Representatives has summoned the Ministers of Finance, Budget and National Planning, and the Minister of Power over the planned sale of five power plants belonging to the three tiers of government.

Others summoned are the director general of the Bureau for Public Enterprise (BPE) and the managing directors of the Niger Delta Power Holding Company and Nigeria Bulk Electricity Trading Company.

In letters to the agencies on Sunday in Abuja,  the chairman, House Committee on Finance, James Faleke, said the process for sale was unconstitutional.

He added that it was also a disservice to the nation’s development and sharing equity among the three tiers of government.

“The House of Representatives has observed with grave concern the proposed sale of the five National Integrated Power Plants (NIPP),” the letter partly read.

They are Benin Generation Company Ltd, Calabar Generation Company Ltd, Geregu Generation Company Ltd, Olorunsogo Generation Company Ltd and Omotoso Generation Company Ltd. proposed by the Bureau for Public Enterprise (BPE).

According to him, this was without due regard to constitutional principles and economic policy that informed the establishment of the power plants.

“Considering the critical role your agency is playing in the sustainable energy sector in the country, you are requested to stop all further processes regarding this transaction.

“You are to submit the following information for the committee’s determination of the way forward.”

He said the committee was demanding from the Nigeria Bulk Electricity Trading Company a breakdown of the capacity and monthly income of all the power plants.

Mr Faleke added that full disclosure of all the power plants that had taken or paid agreements and electricity consumed and not consumed from inception should be included.

He also requested information on all agreements with the power plants taking or pay basis, approvals needed by the Nigeria Bulk Electricity Trading Company Board, the Federal Executive Council and others. 


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