Local firms dominate Nigeria NIPP sale

Preferred bidders have been announced for 80% stakes in seven of Nigeria’s ten National Integrated Power Project (NIPP) plants. The sale of the other three has been halted by a court case brought by local Ethiope Energy, while few details have emerged of the other local players in the bidding consortia. Bids were opened on 7 March for the sale, which should net the government a total $5.8bn. But within two weeks the sale of Alaoji, Omoku and Gbarain had been stopped by an interim injunction from the federal high court.