BABANGIDA BUYS PHCN

AM has just confirmed that PHCN, the Nigerian electricity authority has been sold to top politicians and power blockers. the move came as a result of the unbundling of various sectors of the power plant.
 The following are some people who profited from this deal


IBRAHIM BABANGIDA, former military dictator bought the Shiroro power plant for 23.6 million dollars

the now infamous FEMI OTEDOLA was the reserve bidder for the Geregu power plant at 132 million dollars.

Others in the lucky few include MR TONY ELUMELU,  JULIUS  BERGER LTD and FIRSTBANK PLC, who operated through consortiums.

Well lets see what this change will bring.