Vice-President Yemi Osinbajo has handed over the discharge certificate of Ughelli power plant to Tony Elumelu, chairman of Transcorp Power Plc.
The handover ceremony took place on Monday before the commencement of the national council on privatisation (NPC) meeting.
A discharge certificate is a written statement of satisfaction that a party has carried out or fulfilled its obligations credibly.
Transcorp Power Limited is the core investor in the Ughelli power plant, which has now been approved for delisting from routine monitoring.
The delisting came a month after the NPC approved the Bureau of Public Enterprises (BPE) recommendations, and after Ughelli Power Plc had met five key post-acquisition requirements.
The requirements are available capacity, capital expenditure, human resources, health, safety and environment, and corporate social responsibility.
In 2013, Transcorp Ughelli Power Limited, (TUPL), a subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), took over ownership of the power plant.
Here are photos from the event.
Source: Top Stories
