The National Council on Privatization yesterday approved the appointment of Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the concession of the Zungeru Hydroelectric Power Plant.
It also approved the commencement of the process of negotiations and the execution of the concession agreement with MESL.
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Laolu Akande, the spokesman Vice President Yemi Osinbajo, in a statement after the council meeting chaired by his boss, said the MESL was chosen among 11 other companies after a technical evaluation of the bids by the Bureau for Public Enterprises and other stakeholders.
He said the council also approved, on the request of BPE, the sale of a property located at Nos. 3-5 Moloney Street, Lagos, (belonging to defunct NITEL/MTEL and housing the Nigerian Postal Service, to the Lagos State Government for the sum of N2.5bn.
NCP also directed the BPE to conduct a nationwide audit of NIPOST properties to ascertain their current state and identify any forms of encroachment on them.