Business and Economy

142 public enterprises in Nigeria successfully privatised since inception – BPE

The Director General of the  Bureau for Public Enterprises (BPE), Mr Alex Okoh says that a total of 142 enterprises have been successfully privatised between the 1980s and December 2017 in the country but out of these, only 63% (roughly 89 enterprises) of them of them are performing while  the remaining 37% (or roughly 53 enterprises) are not.

Sp6eaking at the Enterprise Stakeholders and Investors’ Forum organised by the BPE in Abuja, Mr. Okoh said that the forum is aimed at bringing the Government closer to investors and between the public and private sectors.

He also said that 94 of the privatised enterprises  in such sectors as transport sector to vehicle assembly plants, cement, hospitality, oil palm, fertiliser, bricks and clay, mines and steel, national facilities, oil and gas, ports, power and communication have been successfully monitored by the bureau using such criteria as covenants and levels of compliance and challenges.

In his remarks at the forum, the Vice President, Professor Yemi Osinbajo,  who was represented by his Deputy Chief of Staff, Mr Ade Ipaye, said that since the main aim of the privatisation and commercialization policy of the Federal Government is to drive Nigeria’s socio-economic development and growth to greater heights.

The Bureau Of Public Enterprises (BPE) serves as the secretariat of the National Council on Privatisation (NCP) and is charged with the overall responsibility of implementing the council’s policies on privatisation and commercialisation. The Vice President serves as the Chairman of the National Council on Privatisation

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