Manitoba Hydro Electric Board and Power Grid
Corp. of India Ltd. are conducting due
diligence on Transmission Company of Nigeria, or TCN, and its network having
been invited to bid for the company’s management contract, the Bureau of Public Enterprises ( BPE), said Wednesday.
Analysts however are hoping that the NITEL
experience with Pentascop will not be replicated in TCN. It will be recalled
that the same BPE under the leadership of Mallam Nasir El-Rufai contracted
Pentascop to manage NITEL in preparation for privatisation. Their performance
was so abysmal that the condition of the state owned telecommunications
operator was worse after the contract was terminated.
Also, with the experience that the Ajaokuta Steel Company has had in the hands of Indians, should the country allow an Indian firm to be involved with any of the PHCN successor companies?
A critical requirement of the Power Reform Act of
Nigeria was the unbundling of the Power Holding Company of Nigeria, (PHCN) into 18 successor companies and several
agencies.
TCN, one of 18 companies carved out of the state-run Power Holding Company of Nigeria, or PHCN, ahead of its planned privatization, combines the functions of a transmission services provider, a system operator and a market operator, all of which are central to the sustainability and development of the country's electricity sector, said BPE spokesman Chukwuma Nwokoh.
TCN, one of 18 companies carved out of the state-run Power Holding Company of Nigeria, or PHCN, ahead of its planned privatization, combines the functions of a transmission services provider, a system operator and a market operator, all of which are central to the sustainability and development of the country's electricity sector, said BPE spokesman Chukwuma Nwokoh.
Nwokoh said the
management contract is designed to reduce electricity losses during
transmission, provide for targets that would improve grid security, general
performance and provide efficient management of government’s investments, among
other things. The victorious bidder would be paid by Nigeria, as the country
needs the expertise, Nwokoh said.
The Federal
Government plans to privatize all power generation and distribution companies
created from PHCN by the first quarter 2012.
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