07-01-03 Nigeria's state-run power firm, which is scheduled for privatisation this year, has a liability of more than 450 bn naira ($ 3.5 bn /EUR 3.3 bn), Vice President Atiku Abubakar said.
The debt portfolio includes unpaid loans, pensions and power purchase bills as well as inter-governmental debts, he said while inaugurating a board of directors for the National Electric Power Authority (NEPA).

The 10-member board has been directed to begin the process of restructuring and reforming the organisation, notorious for its inefficiency and corruption. Critics mock NEPA's acronym, claiming it really stands for "Never Expect Power Always."
The board will work with the state privatisation agency to restructure of the firm in preparation for its sale. NEPA's workers' union has criticised the plan to privatise the organisation and threatened to plunge the nation into darkness if the move is not dropped.