In a motion moved by Rep. Magaji Dau’ Aliyu on the urgent need to halt the privatization process of 5 power plants under the Niger Delta Power Holding Company (NDHC) which was seconded by Rep. Ndudi Elumelu.
Rep. Aliyu in leading the debate stated that the motion became expedient due to the NDHC’s flaunting of the rules governing the acquisition and operation of Power Holding Companies in Nigeria and their resources.
He stated that the National Assembly had extensively investigated and resolved that the power plants are not to be sold as they were set up with huge public funds. He stated that the permission to sell these assets by the Federal government is a sad development as the assets are jointly owned by other entities, including State and Local Governments, and not the Federal government alone.
Rep. Aliyu called for proper auditing of the NDHC as this sale would jeopardize the interests of the shareholders. He called on the House to ensure the Bureau of Public Enterprise desists from the intended sale of the 5 power plants and ensure compliance.
Rep. Toby Okechukwu appreciated Rep. Aliyu for the timely intervention in protecting public assets. He stated that the Federal government only has the right to sell off its own shares, but not to arbitrarily dispense of the whole assets, including those of other shareholders.
He called for a better and proper organization of Power Holding Companies nationwide so that they could perform optimally.
Rep. Nkem Abonta proposed an amendment to incorporate the Committee on Privatization into the investigation to be carried out by the House Committee on Power, so the House can make informed decisions.
The motion was voted on and adopted as amended.