NIGERIA MAKES $469M OVER PHCN SALES

Got this from a reliable source. but My question still remains

'where would the money made from the sales go into?' hope it won't just go into history too like other cases.

Nigeria’s Bureau of Public Enterprise (BPE) said it had received the sum of 469,031,940.46 million dollars from preferred bidders for PHCN successor companies.

This is contained in a statement issued by Mr Chigbo Anichebe, Head, Public Communication, on Wednesday in Abuja.

It said that the amount was received from 11 bidders for 12 successor companies as the mandatory 25 per cent payment of the offer value for their bids.

“The bidders that paid today, March 20, 2013, are Vigeo Consortium, the preferred bidder for Benin Distribution Company, which paid 32.25million dollars, being the mandatory 25 per cent of the bid value of the Benin Disco.

“ Transcorp/Woodrock Consortium paid 75 million dollars being 25 per cent of the bid value for Ughelli Power Plc; CMEC/EUAFRIC Energy JV paid 50,249,965 million dollars, being 25 per cent of the bid value for Sapele Power Plc.

“ Kann Consortium paid 41 million dollars, being 25 per cent of the bid value for Abuja Distribution Company; Aura Energy paid 20,464,968.15 million dollars being 25 per cent of the bid value for Jos Distribution Company,'' it said.

Others, it added were Mainstream Energy Ltd that paid 59,467,500 million dollars, being 25 per cent of the bid value for Kainji Power Plc and Sahelian Power SPV, which paid 34.25million dollars being 25 per cent of the bid value for Kano Distribution Company.

It added that other bidders that had earlier paid their 25 per cent bid value were Amperion Power Company Ltd, the preferred bidder for Geregu Power Plc, which paid 33 million dollars.

“Integrated Energy Distribution and Marketing Company, the preferred bidder for Ibadan and Yola Distribution Companies paid 42.25 million dollars and 14.75 million dollars for Ibadan and Yola Discos respectively,

“ NEDC/KEPCO, the preferred bidder for Ikeja Distribution Company, paid 32.75 million dollars and West Power and Gas, the preferred bidder for Eko Distribution Company, paid 33.75 million.