The Federal Government is to privatise the 10 independent power plants built by the Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Project (NIPP).

Managing Director, NDPHC, Mr James Olotu, made this known at an interactive session with journalists in Lagos.

Our correspondent  reports that the power plants are Omotoso in Ondo State (450MW), Sapele in Delta (450MW), Geregu in Kogi (434MW), Olorunsogo in Ogun (750MW) and Ihovbor in Edo (450MW).

Others are Gbarain in Bayelsa (225MW), Alaoji in Abia (450MW), Calabar in Cross River (561MW), Egbema in Imo (338MW) and Omoku in Rivers (225MW).

Olotu explained that a road show to indicate the commencement of the exercise would start in Lagos from Tuesday, June 4 to June 5 with 40 investors.

He said that the road show would be extended to United Kingdom, United States and Hong Kong.

The NDPHC boss confirmed that six of the plants had been completed technically, while the remaining would be completed before 2014.

He explained that the Federal Government would divest 80 per cent of its shares in the power plants, while auctioning would involve the Ministry of Power and the Bureau of Public Enterprises.

Olotu, who did not disclose the expected revenue from the auction, said that proceeds realised would be used to build additional power plants and boost transmission lines in the country.

“With the planned privatisation, there would be efficiency and effectiveness in the management of the power plants.

“Government can play its role where it has relative advantage. Government will invest little but more on transmission sector so as to build the country’s power infrastructure,” he said.

Olotu stated that the Board of Directors of the company which has Vice President Namadi Sambo as its Chairman, had got the approval of the Federal Government to privatise the plants.

He said the sale became imperative due to the fact that the company has achieved the mandate given to it in 2005.

“The mandate was to build 10 independent power plants across the country with capacity to generate 5000 MW by end of 2013 and divest it.

“We are confident to tell you that this year will be a year of harvest in the power sector. All the power generating plants will be completed this year.

“In fact, six plants are ready for commissioning while four others are about to be completed within the next few months.

“We are divesting 80 per cent stake in each power plant as valued by our financial advisers..

“We will retain 20 per cent in order to assure potential investors of our confidence in the plants we are selling,” he stated.

Also speaking, Mr Arif Mohiuddin, CPCS Transaction Adviser to the NDPHC, said submission of bid for the plants was scheduled for July 19 while August 8 was fixed for short-listing of bidders.

“There will be bidders’ conference on September18 and September19. Bidders are expected to submit their proposals on November 8 and evaluation of technical proposal would come up one month later,” Mohiuddin said.

He said names of successful bidders would be announced, while the handing-over of the assets to the investors would come up before June 2014

He gave the assurance that the plants would not be handed over until completion and commissioning.

Meanwhile, the Federal Government is set to tackle the menace of vandalism of power infrastructure in the country, according to the Minister of Power, Prof Chinedu Nebo.

This is contained in a statement signed by Mr Ibrahim Haruna, the Deputy Director, Press in the ministry and made available to newsmen in Abuja last Friday.

The statement said that the ministry was partnering with the Nigeria Security and Civil Defence Corps (NSCDC),  to ensure the success of the task.

It quoted Nebo as having said this when the Commandant-General of the NSCDC, Dr Ade Abolurin, and his team paid him a courtesy visit in Abuja.

The minister added that the ministry would collaborate with all security agencies and other stakeholders to safeguard power infrastructure throughout the country.

He described power as “central and critical” to the Federal Government’s Transformation Agenda, adding that government would not sit back and allow unscrupulous elements to vandalise the equipment.

Nebo observed that successive governments in Nigeria had spent billions of naira to procure power infrastructure, adding that vandalism would derail the planned efforts at ensuring uninterrupted power supply, if not checked.

He stressed that the ministry would leave no stone unturned, in its quest to protect power lines and transformers from the activities of vandals.

Nebo, who said that power lines and transformers were key in the power chain, revealed that the President had committed a lot of resources; both material and financial to the power sector.

He said that the ministry, being the guardian and superintendent of the sector could not afford to fail in providing electricity to Nigerians.

Earlier, the Commandant-General said the NSCDC was conscious of the problems confronting the Ministry in ensuring the security of power equipment in the country.

Abolurin stressed the need for all hands to be on deck to protect the equipment and for the government to succeed in providing uninterrupted electricity supply to the people.

The commander-general, who called for information sharing and surveillance in the course of protecting power equipment, added that the NSCDC had been protecting infrastructure for all the sectors of the economy since its inception.

Our correspondent reports that the NSCDC, formerly known as Lagos Civil Defence Committee, came into being in May 1967 during the Nigerian Civil War,

It was initially meant to sensitise and protect the civil populace within the then Federal Capital Territory of Lagos.