The 4Power Consortium, led by Taleveras Group, has been selected as the preferred bidder in Nigeria’s power sector privatization, securing a 60% stake in the Port Harcourt Electricity Distribution Company (PHEDC) for $125 million. This acquisition is part of the Bureau of Public Enterprises’ (BPE) ongoing reforms, aimed at improving electricity distribution across the country.
Nigeria’s power sector reform is placing assets worth ₦197.25 billion ($1.25 billion) into private hands, with 10 state-run electricity distribution companies being transferred to private investors. The privatization is expected to address the persistent power shortages that have hindered Africa’s second-largest economy.
Igho Sanomi, CEO of Taleveras Group, expressed enthusiasm over the achievement, emphasizing the consortium’s commitment to improving power distribution in the Niger Delta region. “4Power represents a strong partnership that will help improve the power situation in the region,” he said, commending the transparent and rigorous privatization process.
PHEDC is responsible for electricity distribution in Rivers, Bayelsa, Akwa Ibom, and Cross River States, making it a critical player in Nigeria’s energy landscape. Taleveras’ leadership in this acquisition marks a strategic expansion of its power distribution portfolio, reinforcing its growing influence in the sector.
