FG appoints transaction adviser for sales of Afam power plant and Yola Disco

Afam power plant

The Federal Government has appointed transaction advisers for the privatization of Afam Power Generation Plant and Yola Power Distribution Company as it signaled the commencement of the sales of the generation and the distribution companies.

Speaking during the joint kick-off meeting of the transaction advisers in Abuja, the Director General of the Bureau of Public Enterprises (BPE) Mr. Alex Okoh vowed that the Bureau will not compromise on transparency and integrity in the sale and management of public assets in the country. Mr. Okoh also said the Bureau had raised the bar for privatization transactions. He maintained that stakeholders would be carried along throughout the entire stages of the transactions.

He noted the criticism that trailed the initial privatization of the power companies and said that the lessons learned in the previous exercise would be applied to set a standard for the fresh transactions, adding that transparency and professionalism are key to all the Bureau’s transactions. FBN Quest Consortium emerged as the sole transaction adviser for both the Yola and Afam power companies.

Source: Independent reporters