The National Council on Privatization (NCP) yesterday ratified the sale of Enugu Distribution Company (Disco) to Interstate Consortium.
Speaking to State House correspondents after the NPC's meeting chaired by Vice President Mohammed Namadi Sambo, the chairman of NCP Technical Committee, Atedo Peterside, said the council also ratified the sales of all the 10 PHCN distribution companies and four out of the five electricity Generation Companies.
He said only the sale of Sapele Generation Company was not ratified because the preferred bidder did not fully pay for the asset, saying the council thereby referred the matter to the Ministry of Justice for legal interpretation.
Confirming the controversy trailing the sale of Enugu Disco following the reported failure of the preferred bidder, Interstate, to meet the payment deadline of August 23, he said: "The reserved bidder has gone to court, and if indeed he has gone to court the matter is subjudice. It's not something we can sit down here and start talking about. All I did was to announce the result which was that the NCP ratified the sales of all the 10 Discos in question whose payments were received".
Also speaking, Permanent Secretary of the Federal Ministry of Power Godknows Igali said the council approved the immediate release of funds through the Accountant General of the Federation to clear all the outstanding payments to PHCN workers.
Bureau of Public Enterprises Director General Benjamin Dikki said about N384billion had been earmarked for the payment of 49,000 PHCN workers' severance allowances which, he assured, would be fully paid by next Friday.