The Federal Government on Thursday said that only investors with technical and financial capabilities would be considered in the privatisation of the power sector.

Ms Bola Onagoruwa, the Director General of the Bureau of Public Enterprise (BPE) said this at a two-day Electric Power Investors’ Forum in London.

“It is apt to point out that only bidders’ technical ability and financial capability that will influence the out come of the privatisation process,” the Europe correspondent quotes Onagoruwa as saying.

“Under the privatisation strategy for distribution companies, a private sector operator will acquire controlling equity interest in any of the distribution companies with a view to rapidly improving their operational efficiency,” she added.

Onagoruwa said investors were encouraged to go into strategic alliances that would best deliver the competencies being sought by the Federal Government.

“It is not only important that we have competent operators of these utilities up for privatisation, it is equally as important that they have access to investable funds to bring about massive infrastructural upgrades,” she stressed.

Onagoruwa further explained that prospective investors and concessionaries in the generating companies will be responsible for operating the stations and improving the generation capacity.

“They will also make the necessary investments to enhance the fortunes of the companies in line with the overall objectives of the Federal Government,” she said.

Also speaking, Chairman of the Presidential Task Force on Power, Prof. Barth Nnaji said government was committed to the implementation of its power sector reforms.

He assured interested investors that, “the bulk trader will give comfort to power generating companies”.

Our source reports that the Forum is to create a platform for potential bidders who have some concerns in investing in the Nigeria’s power sector.

Nearly 200 investors including officials from the World Bank are attending the two day Forum.