BPE generates N251.5bn from 122 privatised firms

Chigbo-Anichebe-360x225The Bureau of Public Enterprises, BPE, generated N251.5billion from 122 privatised firms handled from 1999 -2012, the Director-General, Benjamin Ezra Dikki, has disclosed.

Dikki, who spoke while receiving a team from the Standard & Poors’ and Fitch Rating Agencies on a visit to the Bureau, said out of the amount, N147billion was remitted to the Privatisation Proceeds Account with the Central Bank of Nigeria, CBN.

He told the team led by Richard Fox that was at the Bureau in continuation of this year’s Nigeria Sovereign Rating exercise, that out of the privatised enterprises, 66 per cent were doing well, while 34 per cent have issues to be sorted out.

The BPE helmsman maintained that the government is creating an enabling environment for private sector investments in infrastructure through the institution of sound policies, liberalisation and delineation of the roles of the parties, appropriate legal and regulatory framework, mitigation of risks and introduction of independent economic regulators limiting government to policy formulation, planning and technical regulation, among others.

He said the BPE has championed cross-cutting reforms in the nation’s economy, including; the Pension Reform Act 2004 which led to the establishment of the National Pension Commission, and the entrenchment of a stable pension policy in Nigeria, as well as the emergence of several Pension Fund Administrators, PFAs, Cross debt resolution, leading to the establishment of Debt Management Office and Ports and Harbour Authorities Bill which proposes to repeal the Nigerian Ports Authority Act No. 38, 1999.

Dikki, whose presentation was contained in a statement by BPE spokesman, Chigbo Anichebe, was represented by the Head, Strategic Planning, Osauzo Obaro.

He said the Bureau is working to commercialise the country’s 12 River Basin Development Authorities, the seven national parks, the three Development Finance Institutions, Bank of Industry, Bank of Agriculture, the Federal Mortgage Bank of Nigeria, as well as the Federal Housing Authority.


Information from The Nation was used in this report.



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