FG Receives Report on Non-performing Privatised Enterprises

The Federal Government’s four inter agency committees on the resuscitation of ailing/ non- performing privatised enterprises in the country have submitted their reports with the Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh reiterating the Bureau’s commitment to collaborate with relevant agencies to resuscitate and bring to life, the moribund enterprises.

Receiving the reports of the committees at the Bureau’s corporate office in Abuja on Thursday, August 26, 2021, Okoh expressed the hope that with the wealth of experience, expertise, commitment, diligent and intellectualism exhibited by the members in the course of carrying out their assignment, the outcomes would bring the desired solution to the non-performing privatised enterprises.

He said the affected  enterprises; privatised about ten years ago in the Automobile Sector; Bricks and Clay (Housing) Sector; Oil Palm Sector; Mines and Solid Minerals Sector and others, have failed to meet the aim of the privatisation and the reform programme of the Federal  Government hence the Government through the National Council on Privatisation (NCP)directed  the BPE to investigate the cause(s) for  their inability to perform; and also proffer viable and acceptable solutions to resuscitating them to perform optimally, create employment, boost the economy and increase GDP amongst other benefits.

He assured that the findings of the committees would be shared among all stakeholders so as to spur them to meeting their organisational objectives and that of the Federal Government’s privatisation and reform programme; and that the Federal Government on its part, would implement the recommendations because it has the political will to do so.

As a sign of honour and appreciation for the diligent and good work of the committees, the Director General issued each member with a Letter of Commendation at the event.

In his remarks, the Director, Post Transaction Management at the Bureau, Mr. Toibudeen  Oduniyi thanked the committees for the support and diligence in preparing the reports.  

it would be recalled that the BPE on Tuesday, March, 2021, inaugurated the four inter Agency Committees on the resuscitation of the ailing/non-performing privatised enterprises. the idea behind the Committees was necessitated by the need to incorporate more experts and relevant stakeholders to contribute meaningfully towards achieving the goals as envisaged by the Federal Government towards ensuring that the moribund enterprises are performing optimally to boost the economic development of Nigeria.

Amina Tukur Othman

Head, Public Communications

August 27, 2021