The Bureau of Public Enterprises (BPE) has received technical and financial proposals from 54 potential investors interested in buying Nigeria’s electricity distribution companies. The privatization process started in March 2012. Potential investors had to submit technical and financial bids until July 31, 2012. The evaluation of the technical bids will take place between August 14 and 28, 2012. The National Council on Privatization (NCP) will approve the results of the technical evaluation by September 11, 2012. The deadline for the shortlisted bidders for generation companies to submit their letters of credit is September 18, 2012, while October 2, 2012 is the deadline for shortlisted bidders for distribution companies.
The two electricity distribution companies in Lagos, the Eko and Ikeja distributing stations, received the most bids. Oando Gas and Power, Honeywell, and Gumco are among local and international firms to submit bids for the acquisition of the eleven electricity distribution companies scattered across the country.