The House of Representatives has called on the federal government to halt every arrangement toward the privatization of the Niger Delta Power Holding, the only remaining generating company wholly owned by the 3 tiers of government.
Consequently, the House directed the committees on power and Privatization and Commercialization to investigate the planned sale of the NIPP power plants of the NDPHC and report back to it within four(4) weeks for further legislative action.
The resolutions followed the adoption of a motion under matters of urgent public importance brought by a from Lagos state, Kayode Musbau, wherein he called attention to the danger of selling off the remaining national assets in the power sector, even though the distribution companies so privatised have not lived up to expectations.
This was even as the lead committee on power, has written to the director general of the Bureau for Public Enterprise, BPE inviting the agency to appear before the joint committee for an investigative hearing.
The lawmaker while presenting the motion noted that the Niger Deita Power Holding Company (NDPHC) is a public asset that can’t just be sold off without proper explanation as to the benefits of such privatization after expending tax payers money to establish them.
“The Bureau for Public Enterprise (BPE) recently announced the proposed sale of five (5) NIPP assets in Cross River, Edo, Ondo, Ogun and Kogi States with the aim of using the proceeds to fund the Federal Government budget-deficit.
“The assets under consideration do not belong exclusively to the Federal Government but the three tiers of government.
He expressed concerned that the Federal Government did not take some vital issues into consideration such. as the applicable policy, and the appropriate legal framework or legislation under which the transactions will be implemented, as well as the laws relating to procurement or disposal of shares and assets, given the shareholding of the States and Local Governments.
The lawmaker stated that the Joint Transaction Board (JTB), which was created to handle the sale of NIPP power plants, did not approve the sale of five power plants, wondering why the BPE is going ahead with the sale.
Following the resolution, the lead committee on power in a letter dated July 1,2021 as seen by journalists invited the leadership of the BPE to appear before it for explanations at an investigative hearing on Tuesday 13th July, 2021.