FG hands over power plants to investors Monday

The Federal Government has said it would on Monday formally hand over the privatized power plants to private sector investors.

Vice President Namadi Sambo gave the assurance on Friday in Abuja during a special forum on financing the power sector reforms for economic development.

The forum, which was supported by the Central Bank of Nigeria and sponsored by Nigerian Deposit Money Banks, was aimed at reviewing the contribution of the banking sector to the reforms in the power sector.

Sambo, who is also the Chairman of the National Council on Privatization, said that all labour issues with workers of the Power Holding Company of Nigeria had been resolved.

To this end, he added that the payment of severance, pensions and gratuities of all the 47,913 workers would be settled on Friday (yesterday).

He said, “At the inception of the privatisation programme, a total of 25 generating companies and 54 distribution companies sent in bids. After a rigorous and screening process, five bidders for the Gencos and 10 bidders for the Discos were successful.

“The relevant government agencies have since February 2013 signed the transaction document. The winning bidders have also paid their bids in two instalments of 25 per cent and 75 per cent by the end of August 2013.

“With their full payment of the transaction amount, the stage is now set for the formal handing over of the generation and distribution companies on Monday 30 September, 2013.

“Another major success of the transaction was the successful resolution of all labour issues. The agreement reached is being implemented and payment of severance, pensions and gratuities of all the 47,913 workers of the PHCN is planned to be completed today.”

The VP described the response of the private sector to government’s call to invest in the sector as massive.

This, he added, is a clear demonstration of the confidence of investors not only in the potential of the nation but in the government’s commitment to deliver the dividends of democracy in the power sector.

He said the FG was also implementing an extensive programme for the upgrading and expansion of power transmission capacity and called on the banking sector to support in financing power projects in the country.

“The FG through NNPC, the Nigeria Gas company and the private sector, is implementing a robust programme for the realisation of Nigeria gas masterplan with specific interest in meeting the gas-to-power demand in the country at a planned cost of about $8bn.

“Already, $500m out of the $1bn Eurobond would be utilised as counterpart funding for the implementation of this project. This is another opportunity for our bankers to participate,” he added.

He said the FG would, in tandem with the goals and objective of the National Electric Power Policy, continue to improve the efficiency and affordability of power supply.

The VP added that the generation capacity of the power sector is being improved.

He said, “We are investing in improving the generation capacity of this country by the construction of Zungeru hydropower which would add 700 MW at a cost of $1.2bn; the construction of the Mambilla Hydropower plant which would add 3,050 MW and we are utilising $1.7bn from the sale proceed of the NIPP power plant as counterpart funding for this project that would cost $6.4bn.”

Tiwa Savage Exposes Her Private ‘Thing’ During Performance

Wonders they say will never end. Shoo, abi na wetin be this o. Hmm, if we talk, dem go say our amebo too much but na which kain thing com be dis nah?

Well, Tiwa Savage got busted by the sharp lens of a photographer and she was filmed with her ‘thing’, which should have been an exclusive view of her man, exposed for the whole world to see.
Chai, dis na bad market o. Poor Tiwa Savage.
As the story goes, she was performing at an event and her ‘Aso Rock Villa’ was busted. At least, people now know how it looks like; black and d***y? No be me talk am o. Abi she no dey wash that place ni? (Covering my nose and pleading the blood of ‘did I hear you say Ojigbijigbi? Sorry, I am not Chief Ajagba

Nollywood Actress, Hilda Dokubo Reconciles With Ex-Husband

A top scandal-free actress in Nollywood, Hilda Dokubo has reconciled with her ex-husband, Akarose Mrakpor years after their separation.
In 2008, the lovers dumped each other for new relationships.
Karo Mrakpor married a new woman who gave birth to a child before the relationship collapsed.
The lovers met at the University of Port Harcourt in 1986 and got married few years after graduation.
The couple gave birth to a son named Tuvi then before their separation.
The recently re-united couple have been spotted in several locations in Port Harcourt walking hand-in-hand.
“They are so much in love now” – said a witness.
True love stands the test of time. This shows that Hilda & Karo are meant for each other.

PDP Govs’ Forum borne out of necessity – Tukur

Abuja - The PDP on Sunday night elected Gov Godswill Akpabio of Akwa Ibom as the Chairman of the party’s Governors’ Forum.
This was a major outcome of the meeting of the party’s leadership with its governors which held late into the night, with President Goodluck Jonathan presiding.
The PDP Chairman, Alhaji Bamanga Tukur, who presented Akpabio to newsmen, said the formation of the new body, the PDP Governors’ Forum, was borne out of necessity.
Speaking in same vein, Akpabio said his election was borne out of the urgent need for the party to re-strategise.
He said the new body would not in any way disrupt the larger body of Governors’ Forum currently chaired by Gov Rotimi Amaechi of Rivers, who is also a PDP governor.
He said the Governors’ Forum still subsisted, adding that other political parties also had the right to form a similar organ, if they so wished.
Akpabio denied any move to remove Amaechi, who also attended the meeting, from his position.
“There is no move to remove the Rivers Governor as Chairman of the Governors’ Forum. There was never a discussion to remove him as his tenure will end in April.”
Akpabio also said that the new development would not lead to any crack in the larger forum.
“There will be no crack. Other parties are also meeting. There will be no crack but it will strengthen the forum,” he said. (NAN)

Photo – Is Yoruba Actress Toyin Aimakhu Johnson Pregnant?

That’s Toyin Aimakhu and her newly married husband Adeniyi Johnson pictured above. Look at her tummy very well. Big congrats Toyin!

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Married Man Caught Pants Down With A Married Female Pastor

There was drama in Highfield, Zimbabwe on Sunday night when a married, female pastorwas evicted from her matrimonial home after she was reportedly caught pants down with a married man in their matrimonial bed. Pastor Tsitsi Mukwamba, was reportedly caught by her husband after news that she was having extra-marital affairs with young males reached her husband. The man whom she was caught with in bed reportedly died mysteriously the same day.
Police spokesperson confirmed the sudden-death report after a misunderstanding between the deceased and his girlfriend.
“Police are still investigating a sudden death of the deceased following a misunderstanding between the deceased and his girlfriend. The deceased’s wife reported that the deceased downed poisonous pesticide at his girlfriend’s house following a misunderstanding with the suspect. The deceased failed to justify to his wife how he was poisoned in the neighborhood when he reported to her that he was coming from another state.