The Federal Government plans to divest five power plants at a cost of $1 billion.

The Bureau of Public Enterprises, under the Federal Government, is presently conducting transactions to sell five power plants as part of the National Integrated Power Projects, with an estimated cost of approximately $1.15 billion. 

Although insiders suggest the international benchmark values the plants at over $5 billion, the BPE aims to sell them for slightly above $1.1 billion. 

The acting Director-General, Ignatius Ayewoh, confirmed the ongoing transaction but didn't disclose specific plant costs. 

Identified plants include Geregu II, Omotosho II, Olorunshogo II, Odukpami, and Benin-Ihovbor, each with varying capacities and proposed sale prices.

The sale of these National Integrated Power Projects has been a prolonged process, marked by agreements, disagreements, and evolving estimated values. 

As of now, the sale is not finalized, and the Niger Delta Power Holding Company, managing the plants, has not confirmed the transaction. 

Initial estimates for individual plants are speculated to range from $300 million to $500 million.