NCP Approves Performance Agreements for Afam Power Sale to Transcorp Consortium

The Nigerian Council on Privatization (NCP) has given the green light for the implementation of performance agreements between the Bureau of Public Enterprises (BPE) and Transcorp Power Consortium for the sale of Afam Power Plc. The move is aimed at regularizing outstanding obligations and ensuring commercial viability of the Afam Power Plant.

Despite Transcorp Power Consortium taking possession of Afam's assets, the execution of the performance agreement is crucial to establish performance indicators and commitments. Vice President Kashim Shettima emphasized the importance of moving beyond mere asset sales to optimize assets and drive Nigeria's economic growth towards becoming a trillion-dollar economy.