BPE Constitute Committees To Proffer Solutions Towards Reviving Deteriorating Privatised Entities

Okoh

The Bureau of Public Enterprises (BPE) has inaugurated four committees to proffer solution mechanism for addressing the complexities and challenges hindering the growth and development of some privatised enterprises in the country.

This is against the backdrop of complaints on the fate of some of the privatised entities, whose core investors have done nothing to improve but engaged in assets stripping rendering the enterprises to relapse into worst condition than they met it when they were handed over to the core investors  over ten years ago.

BPE explained that the committees were prompted by its determination to ensure that privatised enterprises in the country provide dividends to the citizenry in line with the privatisation policy of the Federal Government.

The committees are also to provide policy markers with further insight into the practical realities facing the sectors in which the enterprises were privatised and proffer credible solutions to addressing the problems.

They are the committees on Housing Sector (the Bricks and Clay), Mines and Steel Development, Oil Palm and Automobiles. The fifth committee on Paper Mills had earlier been inaugurated.

Inaugurating the committees in Abuja on Thursday, March 7, 2019, Director General of the Bureau of Public Enterprises (BPE), 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 ten years and observed that they occupied a strategic place in the nation’s economy but have remained suboptimal since privatisation.

Okoh said the NCP also took into cognizance, the need to resuscitate and reposition the enterprises in order to enhance their market value and their overall contribution to the economy.

Consequently, he 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 Director General 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.