Posted by MARTIN AYANKOLA, Lagos on
OANDO Nigeria Plc is firming up its plan to bid for the Ikeja Distribution Zone of the Power Holding Company of Nigeria.....
OANDO Nigeria Plc is firming up its plan to bid for the Ikeja Distribution Zone of the Power Holding Company of Nigeria [PHCN] as its representatives last week assessed some assets of the zone.
Nigerian Tribune gathered that the representatives of the company inspected the injection substations in the zone. This move is a strong signal that the company is firming up its plan to present a bid for the company.
The Chief Executive Officer of Oando Plc, Mr. Wale Tinubu had hinted at the presentation of 'Facts Behind the Figures" of the company" on the Floor of the Nigerian Stock Exchange recently that the company would bid for the Ikeja Distribution Zone of PHCN when the privatization process began.
He also hinted that the company might also bid for some other successor companies of PHCN.
Meanwhile, the chairman of the Nigerian Electricity Regulatory Commision, Dr. Ransome Owan, has disclosed that 12 new Independent Power Producers[IPPs] might be licensed in the 'next couple of weeks"even as he said that a new electricity tariff would be approved for distributors of electricity soon.
Dr. Owan, who was speaking in Lagos at the inauguration of three new injection substations by the Ikeja Electricity Distribution Company[Ikeja Distribution Zone] said"As I talk to you, we have about a dozen[Independent Power Producers] that have filed application that we are now reviewing. Once we complete our due diligence, those that meet our threshold will be granted licences very soon, hopefully in the next couple of weeks".
On electricity tariff, he said, ' We did receive earlier on this year a request for tariff increase. We have reviewed the processes. Initial submission was inadequate, we asked for more details. Those details have been submitted to the commision and we will be coming up with a decison soon".
Dr. Owan, explained that the new tariff that would be appproved would be a multi-year tariff order that would allow customers to see their tariff five to 15 years ahead.
He commended the company for building the power injection substations which he said would improve power supply to consumers.