The Bureau of Public Enterprises (BPE) has inaugurated four committees to come up with a mechanism for addressing the complexities and challenges hindering the growth and development of some privatised enterprises in the country, which were taken over by core investors over 10 years ago.
BPE’s step is a calculated attempt to ensure that privatised entities provide dividends to the citizenry in line with the privatisation policy of the federal government.
The privatisation agency said the committees are also to provide policy makers with further insight into the practical realities facing the sectors in which the enterprises were privatised and proffer credible solutions to addressing the problems.
The four committees are those on the housing sector (the Bricks and Clay), Mines and Steel Development, Oil Palm and Automobile. The fifth committee on Paper Mills had earlier been inaugurated.
Inaugurating the committees in Abuja Thursday, the BPE Director General, Mr. Alex A. Okoh recalled that the National Council on Privatisation (NCP) at its meeting of April 12, 2018, reviewed the performances of some privatised enterprises in the past 10 years and
observed that they occupied a strategic place in the nation’s economy but have remained suboptimal since privatisation.
Okoh, according to a statement by the agency’s Head, Public Communications, Amina Tukur Othman, said the NCP also took into cognisance, the need to resuscitate and reposition the enterprises in order to enhance their market value and their overall contribution to the economy.
He, therefore said the NCP directed its secretariat, (the BPE) to organise an Enterprise Stakeholders/Investors Forum with the objective of creating a platform where the core investors of the privatised enterprises, potential investors and relevant MDAs would meet and
chart a way forward for their resuscitation through partnership between the private and public sectors; adding that the objective is in consonance with the Economic Recovery and Growth Plan (2017) of the federal government.
The DG noted that it has been the custom in BPE to engage stakeholders in its programme design and execution in order to solicit their cooperation, support and participation to the success of the privatisation programme and the Nigeria economy.
Okoh implored members of the committees to work assiduously and submit their report within 90 working days’ timeline.
Membership of the committees is drawn from the relevant sectors, ministries, the Bureau of Public Enterprises (BPE) and the private sector.