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Buhari To Sell 3 Electricity Gencos To Fund 2018 Budget

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Buhari-led FG has concluded plans to sell off 3 electricity generation companies, says it will be used to finance projected 2018 Budget deficit.
President Buhari with Power Minister Babatunde Raji Fashola [right]

The President Muhammadu Buhari-led federal government has concluded plans to sell off three electricity generation companies. saying it will use the proceeds to finance the projected 2018 Budget deficit.

The federal government said this on its Twitter handle on Tuesday.

The three affected companies are those built by Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Projects (NIPPs).

The statement reads:

“Plans have been concluded to complete the sale of three electricity generation companies built by Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Projects (NIPPs) to help fund the projected #Budget2018 deficit.”

The government is yet to mention particularly which of the companies in question.

Recently, 14 November, 2017, the Senate approved President Buhari’s $5.5 billion foreign loan request.

The loan was also claimed to help fund the same 2018 Budget deficit.

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