The Director General, Bureau of Public Enterprises (BPE), Mr Alex Okoh, has revealed that 36 privatisation and reform projects have been listed in its 2021 workplan where it hopes to rake in N493.4billion net revenue from them.
Speaking at a breakfast meeting with journalists in Abuja on Monday, Okoh explained that the energy department has nine projects; industries and communication department will undertake eight projects; development institutions and natural resources department has six; infrastructure and private sector partnership has four projects and post transition management department has nine.
The BPE boss further revealed the privatisation of NIPOST has given birth to three new limited liability companies namely with 100 per cent government ownership but expected to run as a ful, private sector-led business. They are; NIPOST itself in charge of the stamps and EMS speed post, NIPOST Transport and Logistics Company, NIPOST Property Development Company and NIPOST Microfinance Bank.
He added that the initial takeoff grant was being awaited while the companies will ultimately run by self-funding arrangement as designed.
According to Okoh, the initial plan for the BPE was to have the four government owned refineries privatised but the plan had to be yanked off its 2021 workplan when the Nigerian National Petroleum Corporation (NNPC) secured Federal Government’s nod to rehabilitate them instead.
On the Ajaokuta Steel Complex that has been prostrate for over four decades, the BPE boss described it as a complex issue, humongous litigation that was gradually being resolved.
“It’s a very tough issue. GINL is the original concessionaire of the place and we are close to resolving the litigation around it. Once done, we will take the next decision on it”, he said.
On why the privatisation of various government entities takes such a long time to complete, the BPE boss said; “Privatisation is not a very popular idea. So, it’s natural for MDAs to push back and want to retain control of those assets. “Also there are labour challenges, opposition, bureaucracy, red tape and so on. All these slow down the entire process but we need to strategically liberalise the economy.
