The Niger Delta Power Holding Company Limited, NDPHC, has assured the nation that no power plant will be handed over to the private investors uncompleted.
James Olotu, the managing director of the company, gave the assurance on Wednesday at a transaction review conference with relevant stakeholders and private investors.
“Before handing over, every power plant will be completed and fit for the purpose intended in line with how the contracts were designed. The completion of the power plant will not hinder the privatisation process in any way,” he said.
Olotu added that government was fully committed to ensuring that it met with the dates stipulated for the handing over.
“We have a timeline that by June next year, all the power plants will be handed over,” he said.
Reacting to requests by some of the investors for an extension of date for the submission of bid, Olotu said that the extension was subject to the decision of the government.
He stressed that no matter the level of extension of date some contractors would still not be ready, adding that government would only deal with the serious ones.
“Examination time is examination time, there is no time that you set for an examination that all the students will be ready,” he said.
The director promised that full capacity and availability of power will come with the privatisation as the issue of unavailability of gas would have been resolved.
He explained that by the time the whole system was private sector-driven, issues of non-availability of gas would not arise, adding that gas suppliers would ensure adequate supply of the product and make profit.
Olotu expressed optimism that at the end of the process, Nigerians would be able to reap the real benefit of competition and best business practice just like the telecommunication industry.