BPE constitutes committees to resolve challenges to privatised enterprises growth

The Director General, Bureau of Public Enterprises (BPE), Alex Okoh
The Director General, Bureau of Public Enterprises (BPE), Alex Okoh

The Bureau of Public Enterprises (BPE) has constituted four committees to help resolve the complexities and challenges hindering the growth and development of some privatised enterprises.

The committees are those on Housing Sector (the Bricks and Clay), Mines and Steel Development, Oil Palm, Automobiles and Paper Mills.

A statement by the spokesperson of the privatisation agency, Amina Othman, on Thursday said the Director General of BPE, Alex Okoh, said the inauguration of the committees is part of its determination to ensure the privatised enterprises yield dividends to Nigerians.

The committees, which have 90 working days to submit their reports, have their members drawn from the relevant sectors, ministries, BPE and the private sector.

Mr Okoh said the committees were mandated to come up with a mechanism to redress the issues hindering the growth and development of some privatised enterprises handed over to core investors over a decade ago under the privatisation policy of the federal government.

Also, the committees are to provide policymakers with further insight into the practical realities facing the sectors under which the enterprises were privatised as well as proffer credible solutions on how to resolve the problems.

At the inauguration of the committees in Abuja on Thursday, Mr Okoh said the meeting of the National Council on Privatisation (NCP) on April 12, 2018, reviewed the performances of some of the privatised enterprises in the last ten years.

He said the resolution of the meeting was that most of the affected enterprises have remained suboptimal since privatisation despite occupying strategic places in the nation’s economy.

The BPE DG said the NCP also took into cognizance the need to resuscitate and reposition the enterprises to enhance their market value and their overall contribution to the economy.

To realise their mandate, Mr Okoh said the NCP directed its secretariat (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.

The forum, which will facilitate the resuscitation of the enterprises through partnerships between the private and public sectors, is in consonance with the federal government’s Economic Recovery and Growth Plan (2017).

As is the custom in BPE to engage stakeholders in its programmes design and execution, the DG said he was soliciting the cooperation, support and participation of the people to the success of the privatisation programme and the Nigerian economy.

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