The Huse of Representatives ad-hoc committee investigating the sale of power assets, yesterday, queried the Bureau of Public Enterprises (BPE), and the Abuja Electricity Distribution Company (AEDC), over the sale of Transmission Company of Nigeria (TCN), among other power assets
The Ahmed Yerima-led ad-hoc committee had told the BPE DG’s representative, Mr Amechi Aloke, a Deputy Director in the agency, that the memorandum submitted showed that the TCN’s 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, in its defence, said there was a public advertisement that called for expression of interest before the pre-qualification of the company as the preferred bidder. The agency told the committee that Manitoba International Company Ltd of Canada became their preferred bidder after the pre-qualification and bidding of four companies, a process it insisted was done transparently.