Business
FG To Sell 80 Per cent 10 NIPP Plants
The Federal Government has reiterated its desire to sell 80 per cent of the net worth of ten NIPP projects in the ongoing privitisation of the power sector.
This was disclosed in a statement issued by Media Consultant to Niger Delta Power Holding Company (NDPHC), Mr Joseph Michael, made available to newsmen in Lagos.
The statement quoted the Minister of Power, Prof. Chinedu Nebo, as saying that government was committed to its power sector reforms.
“I assure investors of maximum support in ensuring that their business succeeds in the country, Nebo had said.
The statement read in part: “The international investment drive for the divestment of government stakes in the generation assets of NDPHC started in Lagos with a road show.
“The road show moved to London for the privatisation of ten NIPP power plants and will move to Hong Kong and New York subsequently.
“At the NDPHC road show in London, Nebo said that the ongoing privitisation of power plants in the country was part of efforts to guarantee effective and sustainable power supply in Nigeria.
“The London show is to kick-start the international investment drive for the divestment of government stakes in the generation of assets of NDPHC.“
The statement said that the Nigerian Electric Power Policy of 2001 and the Electric Power Sector Reform Act 2005 were two important tools to the power sector reform.
“The Act is a necessary foundation for charting a new course for a sector that had delivered far below the most liberal expectations of Nigerians.
”Privatisation of all public generation and distribution companies is one of the pillars of the efforts of the Federal Government of Nigeria to reform the power sector,“ it said.
The Federal Government intends to divest 80 per cent of its shares from NIPP power plants in Ondo State (Omotoso/450MW) and Delta State (Sapele/450MW).
The other power plants are in Kogi State (Geregu/434MW), Ogun State (Olorunsogo/750MW), Edo State (Ihovbor 450MW), Bayelsa State (Gbarain/225MW), Abia State (Alaoji/450MW), Cross River State (Calabar/561MW), Imo State (Egbema/338MW) and Rivers State (Omoku/225MW).
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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