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Nigeria to Sell Five Power Companies to Help Plug Budget Gap

  • State plans to sell 434 megawatt to 676 megawatt plants
  • Nigeria seeks private investors in power to end blackouts
An employee walks past an electrical facility in Port Harcourt, Nigeria. 

An employee walks past an electrical facility in Port Harcourt, Nigeria. 

Photographer: Florian Plaucheur/AFP/Getty Images
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Nigerian authorities plan to sell five electricity-generation companies in the first quarter to help fund next year’s budget, according to the nation’s privatization agency.

It’s looking to open bids for the assets this month and reach financial close by the end of March, Alex Okoh, director-general of the Bureau of Public Enterprises, said in an emailed response to questions on Thursday.