BPE to Generate Over N300 Billion from Privatisation Activities

BPE Plans To Revive Moribund Privatised Enterprises

The Bureau of Public Enterprises (BPE) says it will generate over N300 billion from its privatisation and commercialisation activities to support the 2018 budget financing.

The Director-General of BPE, Dr Alex Okoh, disclosed this on Monday in Lagos at the Stakeholders Media Interactive Forum organised by the Enterprise and the Stakeholders Engagement Committee of the National Council on Privatisation (SEC-NCP).

The event was chaired by the Minister of Information and Culture, Alhaji Lai Mohammed, who doubles as the Chairman of SEC-NCP.

In a presentation, Okoh said some of the transactions in the pipeline include the concession of Warri Old Port, re-concession of the Lagos International Trade Fair Complex, sale of Afam Power Plant and three National Independent Power Projects as well as the partial commercialisation of the River Basin Development Authorities and National Parks.

The BPE, according to him, recently concluded the sale of the Federal Government’s 21 per cent interest in Nigeria Security Printing and Minting Company to the Central Bank of Nigeria.

He said the transaction will contribute a net sum of over N17 billion to the national treasury.

Okoh said that the process for recapitalisation of the Bank of Agriculture to create a stable financial institution that will support farmers was ongoing.

He said the government, through the Central Bank of Nigeria and farmers associations would acquire 40 per cent each of the equity while the private sector would acquire 20 per cent.

Okoh also disclosed that Nigeria Postal Agency (NIPOST) would be unbundled into five commercialisation entities.

The BPE boss said the agency was entering into new privatisation reform programme through Public Private Partnership.

He said the new reform programme targeted the utility and infrastructure sectors including railway, highways, roads, airports and the health sectors.

Okoh appealed to the media to support the government in the privatisation process.

Leave a Reply