Nigeria released the names of the preferred bidders for five state power generation plants, part of its plans to privatize the country’s electricity sector. A consortium including Nigerian firm Transcorp was the highest bidder for the Ughelli Power Co, offering $300 million, the Bureau of Public Enterprises said at a ceremony in Abuja.
Geregu Power plant was won with a bid of $132 million by a group which includes Forte Oil, a petrol firm majority-owned by Nigerian billionaire oil tycoon Femi Otedola.
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