Tag afam power firm stalled three years after purported sale to taleveras bpe

It appears that the Afam Power Firm, a major power generation company in Nigeria, has been stalled for three years after its purported sale to Taleveras BPE, a private energy company.

Here's a summary of the situation:

Background: Afam Power Firm is a major power generation company in Nigeria, with a capacity to generate 1,000 megawatts of electricity. In 2018, the company was put up for sale by the Bureau of Public Enterprises (BPE), the agency responsible for privatizing state-owned enterprises in Nigeria.

Sale to Taleveras BPE: In 2018, Taleveras BPE, a private energy company, was announced as the winner of the bid to acquire Afam Power Firm. The sale was reportedly valued at N105 billion (approximately $280 million).

Stall in Operations: However, three years after the purported sale, Afam Power Firm's operations have stalled. The company has not been generating electricity, and its facilities have been in a state of disrepair.

Reasons for the Stall: The reasons for the stall are not entirely clear, but it is believed that Taleveras BPE has been unable to fulfill its obligations to the BPE and the Nigerian government. The company has reportedly been unable to inject the necessary funds to revamp the power plant and restore its operations.

Consequences: The stall in Afam Power Firm's operations has had significant consequences for the Nigerian power sector. The country is already facing a severe power crisis, and the non-generation of electricity by Afam Power Firm has added to the strain on the national grid.

Calls for Action: The stall in Afam Power Firm's operations has sparked calls for action from stakeholders in the Nigerian power sector. The BPE, the Nigerian government, and other regulatory bodies have been urged to take steps to ensure that the company is restored to operation and that the power crisis in the country is addressed.

Overall, the situation at Afam Power Firm highlights the challenges facing the Nigerian power sector and the need for effective regulation and oversight to ensure that privatized companies fulfill their obligations and contribute to the country's economic development.