NCP Approves Sale of Afam Power Plant to Transcorp Consortium for Nigeria's Economic Growth

The National Council on Privatization (NCP) has granted the Bureau of Public Enterprises (BPE) the green light to formalize the sale of Afam Power Plant to Transcorp Power Consortium. This move, spearheaded by NCP Chairman Kashim Shettima, seeks to enhance the commercial viability of the plant and contribute to powering Nigeria's trillion-dollar economy.

The approval follows a memo presented by BPE's Director-General Ayodeji Ariyo Gbeleyi during the third meeting held in Abuja. The sale process, aimed at collecting outstanding funds and restructuring the plant, is part of Nigeria's power sector privatization strategy, focusing on investor commitments and post-acquisition plans.