FG, 36 state governors agree to sell five power plants to fund 2023 budget

The Bureau of Public Enterprises (BPE) has revealed that the Federal Government and the 36 state governors have agreed to sell five power plants under the National Integrated Power Projects.

According to the reports, the government is to sell five power plants and use the proceeds to fund the 2023 budget.

The agreement is coming after over two years of disputes and legal tussles regarding the sale of the NIPP plants managed by the Niger Delta Power Holding Company, NDPH.

The Director General of the Bureau of Public Enterprises, Alex Okoh, made this disclosure in an interview with journalists.

He also disclosed that the United Bank for Africa, UBA, had secured a core investor to acquire a 60 percent stake in Abuja Electricity Distribution Company, AEDC.

At the same time, efforts were ongoing to get competent investors to repossess the majority shares in the other four Discos that banks took over.