THE All Progressives Congress (APC) South East Zone has faulted the manner in which the Federal Government is privatising Enugu Electric Distribution Company (ENDISCO).
The party accused President Goodluck Jonathan of allegedly favouring Interstate Electric Ltd, being promoted by Chief Wilson Emeka Offor, a Peoples Democratic Party (PDP) financier; alleging that company failed to meet up with the payment of 75 per cent balance deadline of August 21, 2013.
Speaking to reporters in Enugu, APC’s Zonal Publicity Secretary, Osita Okechukwu, accused government of deliberate refusal to invite the reserved bidder in line with the rules and regulations guiding the privatisation exercise.
APC said, “We are amazed that President Jonathan is looking the other way while the Vice President, Alhaji Namadi Sambo allegedly wants to grant 21-day grace to Interstate, which has demonstrated incapacity to source the bid fund; instead of inviting the reserve bidder, Eastern Electric Ltd as provided by the law”.
Okechukwu added, “the buck stops at the table of Mr. President and he cannot feign ignorance of the culture of impunity enveloping the privatisation of ENDISCO, the life wire of the enterprising Igbo people. If Interstate cannot easily pay $93.24 million, tell me how it can fund the upgrade of the distribution network?”
APC said, “We are in the same page with Mr. Atedo Peterside of National Council on Privatisation (NCP) who said that in the circumstance, I would strongly advise that the preferred bidder be disqualified and that we instead turn to the reserve bidder in order to maintain the integrity of the process. Our worry is that our people are entrepreneurs and are earnestly yearning for improved and accelerated power supply, which Interstate lacks the capacity to provide.”