Nigeria’s power minister Chinedu Nebo said that the government is considering bids totaling more than $20 billion for its national electricity transmission company, Transmission Co. of Nigeria.
The sale is supposed to begin in a “few years”, according to Nebo in an interview with Bloomberg Television Africa. The minister said that investors were coming from “everywhere”.
The West African country has been actively trying to privatize its energy industry, hoping to increase electrification rates which currently stand at around only 40%. For more information, please see “36% of Bidders Denied Access to Nigerian Power Shortlist”.
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