FG Okays Privatisation Of Afam Power Plant To Boost Electricity Supply

According to a statement by the spokesman of the vice president, Laolu Akande, the move aims to resolve the lingering dispute between the Federal Government, BFIG and United Company RUSAL through the mediation of the Secretariat with the active collaboration of the Federal Ministry of Mines and Steel Development.

The council advised that “the mediation efforts should take a holistic view of the entire sector and the overriding national interests to jumpstart industrial development through the steel sector in arriving at a resolution on the matter.”

He said, “These approvals, the council noted, were aimed at giving traction to key infrastructure facilities in the country that are presently under concessions, but have been adjudged to be performing sub-optimally.

“These decisions were taken during the meeting of the NCP, which is the highest decision making body on policies relating to the privatisation and commercialisation policies of the Federal Government, on August 22 and 23, 2017 at the Presidential Villa, Abuja.

“Other key decisions taken by the council include the approval of the amendments to the Work Plan for the conclusion of the transaction involving the concessioning of Terminal “B” Warri Old Port; the restructuring and recapitalisation of Bank of Agriculture.

“The restructuring of the BOA is in alignment with the Government’s desire to make financing options readily available to farmers for an aggressive diversification of the Nigerian economy,” the council stated.