Quest Electricity Nigeria Limited acquires Yola Electricity Distribution Company

NIGERIA – Quest Electricity Nigeria Limited has acquired the Yola Electricity Distribution Company (YEDC) with a bid price of N19 billion (US$46.16m). The Bureau of Public Enterprises (BPE) in a statement by Amina Othman, Head, Public Communications indicated that the Share Sale and Purchase Agreement (SSPA) for the privatisation of YEDC was signed between the agency and the investor. According to BPE Director General Mr. Alex Okoh, the new investor has committed to a Performance Improvement Programme which would involve an investment of N28 billion (US$68.02m), over a period of…

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