The Nigerian Electricity Regulatory Commission (NERC) has?? given state governments up till December 31, 2012, to present a detailed valuation of their investments in electricity distribution assets.
Sam Amadi, chairman/chief executive, NERC said a framework for the valuation had already been adopted by parties involved.
“In December, a universal valuation was done. We need to know what asset belongs to who,” Amadi said.
The National Economic Council (NEC) had earlier directed NERC to undertake an inventory of all electricity distribution assets associated with local distribution networks.?? This was done to ascertain the post-privatisation structure of the Power Holding Company of Nigeria (PHCN) successor companies.
The federal government had allocated 40 per cent of the shares of these legacy companies to states within the distribution zones and workers of the companies. These shares will be based on the value of the assets as determined by NERC.