Ok! Let’s take a look at #MasqueradeBehindDiscos, hope the hashtag is OK?
It should be noted that NONE of the local investors in the Power Sector had ever played in that water, so it was important that they come on board with Technical Partners.
KANN Utility Consortium Ltd, a joint venture of Copperbelt Energy Corporation (CEC) Plc & Xerxes Global Investments, acquired 60% of the @aedcelectricity (AEDC) at $164 million
KANN Utility Consortium, led by Neil Croucher, got CEC Zambia as the Technical Partner. CEC provides power solutions to mining companies in Zambia, Congo Democratic Republic and South Africa. @aedcelectricity covers FCT, parts of Niger, Kogi & Nasarawa
Victor Osibodu is the owner of Vigeo Power Ltd., which acquired the Benin Disco for $129m. Vigeo Holdings Ltd is the consortium lead and equity member, with Global Utilities Management Company Limited (GUMCO) as local technical partner
Vigeo Power Ltd. also has African Finance Corporation (AFC) as equity member and TATA Power Delhi Distribution Limited (TPDDL) as the foreign technical partner.
GUMCO was the management operator for the National Pre-Payment Metering Programme (NPPMP) in the Benin Electricity Distribution Company covering Edo, Delta, Ondo and Ekiti States. GUMCO was meant to install 161,000 PPMs within 2yrs for @BEDCpower.
Charles Momoh, Chairman of West Power & Gas; Dr Tunji Olowolafe & Mr Ernest Orji lead the ownership of @EKEDP, partnering with Siemens Ltd, Alpha Consortium Ltd, Atlantic Meridian & Africa Infrastructure Investment Fund, Mauritius to form the Consortium.
A Consortium of @iamsaharagroup and Korean Electric Power CO acquired @IkejaElectric at $134.75m, making it the only investor to have a stake in both the Genco and Disco sections of the power sector. Sahara Group is owned by @TonyeCole1 & Tope Sonubi
It should be of interest that experts raised a major concern as to its efficiency and that monitoring efforts by stakeholders and consumer societies must be doubled to sustain performance Guess the experts were right!
Former Head of State, Gen. Abdulsalam Abubakar is chairman of Integrated Energy Distribution and Marketing Company (IEDMC), which acquired @IBEDC_NG. They had earlier also acquired @YedcPlc until they declared “force majeur”
Alhaji Yusuf Hamisu Abubakar is the MD of the Sahelian Power SPV that acquired the Kano Disco for $102 million. Abubakar was a Commissioner at the Nigerian Communications Commission (NCC), past Executive Secretary of the PTDF
@kedcoplc has Kayseri Ve Civari Elektrik T.A.S. (KCETAS), a Turkish electricity generation and distribution company, as their technical partner
Sahelian Energy Power SPV Limited, is a consortium comprising Incar Power Limited (IPL) by Alhaji Umaru Muttalab, Dantata Investment, Securities Limited by Alhaji Aminu Dantata,
Sahelian Energy and Integrated Services Limited (SEIS), by Alhaji Yusuf H. Abubakar, Highland Electricty Limited (HEL), by Alhaji Kashim Bukar Shettima
@enugudisco was acquired by the Sir Emeka Offor promoted Interstate Electrics amidst some controversy at the cost of $106.4m. Interstate Electrics mentioned Power House International and Metropolitan Electricity Authority of Thailand as its partners
It should be noted that Interstate Electrics could not meet up 75% payment deadline and had earlier been recommended by the BPE for disqualification in the bidding process as it could not meet up with its technical requirements.
Oh! Before we proceed, it must also be stated that Interstate Electrics Ltd listed Metropolitan Electricity Authority (MEA) as the consortium’s technical partner.
We were made to believe that Metropolitan Electricity Authority of Thailand possesses over 50 years’ experience and currently distributes over 12,000MW of electricity in Thailand.
Alhaji Mohammed Noma, Chairman of the Aura Energy got @josdisco. Noma, a politician, is former speaker, House of Assembly in Bauchi State in the first republic. Aura acquired the disco after paying $82 million
The Aura Energy Limited consortium is made up of Aura Energy Limited and its technical partner; Aydem Elektrik Dagitim A.S. of Turkey.
Back @IBEDC_NG, Integrated Energy has entered into a technical partnership with the Manila Electric Company (MERALCO), the Philippines largest distributor of electric power, to manage its technical facilities.
The wisest setup and bought over appears to be @OfficialPHED under a Consortium of 4 Southern States of Cross Rivers, Bayelsa, Akwa Ibom and Rivers State, led by Mr. Augustine Nwokocha as Chairman, 4Power Consortium
4Power Consortium Limited has nine equity companies in the consortium including; Taleveras Group of Companies Limited; Lilleker Brothers (Nigeria); Income Electrix Limited/CESC Limited Joint Venture; Skyview Power Technologies Limited;
First Independent Power Company Limited; Akwa Ibom Investment and Industrial Promotion Council (AKIIPOC); Paradise Power Nigeria Limited; Bayelsa Electricity Company Limited; and CESC
4Power Consortium bought @OfficialPHED at the Cost of $124 million
North West Power Limited, core Investors, who came almost a year later than the rest, bought @Kadunaelectric at $163m Kaduna Disco covers Kaduna, Sokoto, Kebbi and Zamfara state NWPL is chaired by Alh. Yusuf H. Abubakar
After covering all the Discos, and the #MasquradeBehindDiscos, guess we can all have an idea of the Masquerades Behind Darkness in Nigeria
We can then all begin to ask where are the Technical Partners on which strength these Distribution Companies were handed over to these core investors?
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