FG to sell Geregu 2, Omotosho 2 and Calabar power plants for N434 billion

The Federal Government announced that it will sell the Geregu 2, Omotosho 2, and Calabar power plants for N434 billion in 2021. The FG also disclosed plans to concession major sports stadiums across the country.

This was disclosed by the Bureau of Public Enterprises (BPE) in its 2021 Budget Defence in Abuja, reported by Vanguard.

Geregu 2 Power Plant would be sold for N140.7 billion, Omotosho Power Plant N151.4 billion and  Calabar Power Plant N143.4 billion, the BPE said.  The Geregu 2 Power Plant differs from the Geregu Power Plant owned by Billionaire, Femi Otedola.

Senator Theodore Orji, member of the Senate Committee on  Privatization and Commercialization disclosed that Geregu is already majority-owned by private investors.

“We also found that in Geregu Power Plant, the core investor already owned 51% shares and that the transaction emanated from a request by the investor for additional 29% of FGN residual 49% shares,” Orji told the BPE

The Government also announced plans to concession some sports and entertainment infrastructure next year including the National Stadium, Lagos, Moshood Abiola Stadium, Abuja, Jos International Stadium, Adokiye Amiesimaka Stadium and the National Art Theatre

What you should know  

The Nigerian Government has earmarked further privatisation of government enterprises as a major source of generating revenues in 2021.

The Geregu 2 Power is a Simple Cycle Gas turbine with a Capacity of 434 MW and has been Partially operational since its completion in 2012. Its main Gas supply source is Oben-Geregu pipeline, Oben gas plant.

See other details of the Power Plant

Operating Company: Geregu Generation Company Limited

Location: Ajaokuta, Kogi State

EPC Contractor: Siemens Nigeria Limited

Project Consultant: Steag West Africa Limited

Configuration: Three Gas Turbines : 3(Siemens V94.2 Gas Turbines)

Capacity: 506.1 MW (ISO) and 434MW (Net)

According to NDPH the Geregu II power plant is an open cycle gas turbine power plant built to accommodate future conversion to combined cycle gas turbine (CCGT) configuration.

The Omotosho II Power Plant is an open cycle gas turbine power plant built to accommodate future conversion to combined cycle gas turbine (CCGT) configuration.

Operating Company: Omotosho Generation Company Limited

Location: Okitipupa, Ondo State

EPC Contractor: China Machinery Engineering Corporation (CMEC)

Project Coordinator: Elektro Projekt/Valenz Holdings

Configuration: Four Gas Turbines (GE Frame 9E Gas Turbines)

Capacity: 512.8 MW (ISO) and 451MW (Net)

The Calabar Power Plant is an open cycle gas turbine power plant built to accommodate future conversion to combined cycle gas turbine (CCGT) configuration.

Operating Company: Calabar Generation Company Limited

Location: Calabar, Cross River State

EPC Contractor: Marubeni Engineering West Africa Limited

Project Coordinator: Steag West Africa Limited

Configuration: Five Gas Turbines (GE Frame 9E Gas Turbines)

Capacity: 634.5 MW (ISO) and 562MW (Net)

Correction: A previous version of this article suggested this Power Plant is the same as Geregu Power Plant. This has now been corrected.