Osinbajo-led NCP Approves 8 Privatisation, Commercialisation Projects

The Federal Government’s highest decision-making body on privatisation, National Council on Privatisation (NCP), has approved the privatisation and commercialisation of eight projects.

The NCP, chaired by Vice President Yemi Osinbajo, approved the following projects on August 22 and 23, 2017.

1. Commencement of privatisation of Afam Power plants 1-5 to inject additional power into the national grid & improve electricity nationwide.
2. Pursuit of an out-of-court settlement involving the privatisation of Aluminium Smelter Company of Nigeria (ALSCON).
3. The immediate revocation of the concession of the Lagos International Trade Fair Complex.
4. Immediate commencement of a fresh privatisation of Yola Electricity Distribution Company.
5. Amendments to Work Plan for the conclusion of the transaction for the concessioning of Terminal “B” Warri Old Port.
6. The restructuring and recapitalisation of the Bank of Agriculture.
7. Immediate commencement of reform and commercialisation of the River Basin Development Authorities, to revitalise irrigation.
8. The partial commercialisation of Nigeria’s National Parks using three key national parks as pilot projects.

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