The Yola Distribution Company whose operations have been in a hiatus due to the insurgency is set for a new lease of life. 12 companies have submitted bids for the Yola Disco.
The Head of Public Communications of the Bureau of Public Enterprises (BPE), Amina Othman Tukur, disclosed this in a statement shortly after the 1 pm deadline for the submission of Expressions of Interest on Tuesday, September 26, 2018, and said that among the companies that bid are renowned players in the power industry.
It will be recalled that although Yola Distribution Company was successfully privatized and handed over to the core investor in 2013, a force majeure was declared in 2015 by the core investor citing insecurity in the North-East. Following this, the company was duly repossessed by the Federal Government. In 2017 the National Council on Privatization (NCP) approved a fresh transaction to privatize both the Yola Disco and the Afam Power Company.
The imminent resuscitation of the Yola Distribution Company is a significant milestone in the recovery of critical infrastructure in the conflict-afflicted North East and will be a boon to economic activities in the region.