Home Economy FG set to mobilise Manitoba Hydro to commence operation

FG set to mobilise Manitoba Hydro to commence operation

by Business News Report

The Federal Government through the Bureau of Public Enterprise (BPE) has confirmed the approval of the contract of Manitoba Hydro Electric Board of Canada as the network operator for the state-owned power utility. The re-affirmation of the deal signed with the company by federal government recently in Abuja puts an end to the row that ensued as a result of the petition raised by the Bureau of Public Procurement (BPP) against the decision of BPE to announce Manitoba Hydro as the preferred winners of the deal.

Mr. Benjamin Dike, Director General of BPE, who announced the decision of the Federal Government during the maiden National Workshop of the Chartered Institute of Stockbroker (CIS) in Abuja, said the money due to Manitoba Hydro from the federal government has been approved for immediate payment.

“Government has approved the process of payment and Manitoba will be paid soonest”, Dike said. Dike who noted that the robust participation of Nigerians in the ongoing process of power privatisation has conferred credibility and confidence in the whole power transformation agenda, said investors in the sector will be duly encouraged.

His words: “All investors in the power sector are assured that all hanging labour issues threatening the success of the privatisation process would be resolved before the conclusion of the exercise”. He added that proper Title Transfer to core investors will be taken care of by the government.

Dike assured that all hands are on deck to ensure that the security environment in the country improves a lot more to further boost the confidence of foreign investors in the sector to operate without fears in the country. Dike also mentioned that monopolists in the power sector will be continually dismantled in the country to pave way for the complete success of the transformation agenda in the power sector. Besides the power sector, Dike urged investors both local and foreign to look out for more opportunities to create wealth in other sectors like transportation, oil & gas and Agriculture after the ongoing regulations to drive activities in the sector are fully achieved.

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