Mariam Sanni
The Bureau of Public Enterprises, BPE, has revealed that it is set to disburse $250 million in shareholder loans to the 11 DISCOs for system improvements and power assets rehabilitation.
The Director General, BPE, Ayodeji Gbeleyi, who made this disclosure in a press briefing held in Abuja, explained that shareholders’ loan agreements were recently executed for 10 out of the 11 DisCos.
According to him, the disbursement of the loan would begin any moment soon.
While speaking on Nigerian power sector’s progress, the DG noted that a $500 million World Bank loan was secured for power sector reform.
He added that the program has two components: investment project financing (IPF) and program for results.
He stated that under IPF, 3.2 million meters will be distributed, with 330 meters shipped, 160,300 delivered, and 160,700 near completion.
According to him, the Bureau of Public Enterprises (BPE) has strengthened contract and compliance management and intensified oversight of DISCOs.
He said that the bureau represents the government’s interest on the boards of DISCOs, ensuring alignment with best practices.
Also on litigation resolution, the bureau is engaged with the Office of the Attorney General of the Federation to resolve long-standing litigation issues.
He stated that it has obtained NCP approval for the sale of 60% shares in West Power and 3% equity in Ibadan DISCO.
Furthermore, he said the bureau is working closely with key stakeholders to develop a robust pipeline of catalytic PPP projects.
The BPE boss said it is focusing on airports, roads, rail, inland waterways, seaports, agriculture, education, health, housing, ICT, and security.
He said there is a need for a robust pipeline of PPP projects and outlined business cases to attract investors.
According to him, the bureau is working towards establishing a clear legal and regulatory framework to drive the PPP ecosystem in Nigeria.
