The House of Representatives Ad-hoc Committee on Investigation of Power Assets yesterday queried the Bureau of Public Enterprises (BPE) and Abuja Distribution Company over the sale of Transmission Company of Nigeria (TCN).
The Ahmed Yerima led Committee requested from the Director-General of the BPE and Abuja Disco documents on the value of the assets of the TCN and other power stations sold by the agency.
Yerima told the DG’s representative Mr Amechi Aloke a Deputy Director in the agency that the memorandum it submitted showed that the TCN assets were undervalued prior to its sale.
The lawmakers also queried why a foreign owned company Manitoba Hydro-Electric International Co Ltd was awarded the management contract of TCN against its Nigerian
subsidiary Manitoba Hydro-Electric Nigeria Ltd.
However the BPE said that there was a public advertisement that called for expression of interest before the pre-qualification of the company as the preferred bidder.
He told the Committee that Manitoba International Company Ltd of Canada became their preferred bidder after the pre- qualification and bidding of four companies that was done transparently.
The government agency stressed that the whole essence of the bidding process was to get the lowest bidding contractor with the requisite expertise to manage the power station.
The Committee members not satisfied with the documents submitted then requested for the letter of no objection from the other companies that participated in the bidding of the TCN power assets before the sale.
Courtesy: http://www.orderpaper.ng/
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