By TOM CHIAHEMEN, Abuja –
The Bureau of Public Enterprises (BPE), has so far generated a total of N1trillion proceeds from 234 transactions from the privatization programme of the Federal Government.
Director-General of the agency, Mr. Alex Okoh, who made this known at a media briefing in Abuja on Monday, said another sum of N493.4billion was expected as net proceeds from the privation of 36 other entities in 2021.
According to the Bureau’s projections on 2021 workplan, out of the N493,404,182,815.77 net projected proceeds, the highest amount of N484,476,,895,653.00 is to come from 9 transactions under the Energy department, followed by 8 under Industries and Communication department and, 9 under Post Transaction Management Department (N212,458,717.77 while 13 reform-oriented transactions that do not yield revenue under Infrastructure & PPP as well as Development Institutions & Natural Resources departments will cost the Bureau N775,087,555.00.
He further announced that the Bureau had initiated reforms in the Health, Education, Energy and Postal sectors with respective core objectives.
Okoh noted that besides monitoring the performance of concluded transactions and implementation of on-going transactions, the BPE was performing additional roles given to it by the Federal Government in the area of Public Private partnership (PPP) administration, as well as optimization of redundant assets to unlock liquidity.
Among the sectors and respective transactions so far concluded by the Bureau are Agriculture (39 transactions), Banking & Insurance (31), Cement (15), Energy Construction & Services (14), Hotels & Tourism (13) and, Industry & Manufacturing (9). Others are Oil & Gas (13), Port (31), Power (24), Mines & Steel (38), Automobile (8), Paper & Packaging (4), Sugar 4) and, Telecom (1).
The on-going projects carried over to from 2020 include Afam Power and Afam Three Fast Power Ltd, Yola Distribution company, Aluminum Smelter Company of Nigeria (ASCON), Bank of Agriculture, Nigeria Commodities Exchange (NCX), Lagos International trade Fair complex, River Basin Development Authorities, Tafawa Balewa Square (TBS), Abuja Environmental Protection Board (AEPB) and, Sale of properties of Nigerian Mining Corporation Mineral House in Ikeja, Lagos.
Others are: Housing Sector reform, restructuring, recapitalization & commercialization of the FMBN/FHA; Postal sector reforms, restructuring and modernization of NIPOST; Nigerian Hotels liquidation; Nigerian Film Corporation, NITEL/MTEL residual issue (UBA debt excess proceeds from liquidation, MDAs debt); Reform of Health sector; Concession of Calabar and Kano Free Trade Zones; Reform of Education sector; Implementation of SGF circular on PPPs and; Recovery of the remaining unremitted N363million (Capital Hotel) proceeds.
The rest are: Impact assessment study of privatized enterprises (cement, Oil and Gas, Hospitality, Telecoms and ground handling); Result-based monitoring and evaluation of Discos and Gencos using PIPMAP template; Roadmap for resuscitation of non-performing enterprises; monitoring and evaluation of ports; Dividend issue of Nigeria Airways pension fund and; Resolution of labour issues.
According to the Director-General, the new projects to be undertaken by the BPE include transmission Company of Nigeria (TCN), Nigeria Integrated Power Project (NIPP), Refineries, Zungeru Hydro power concession, Geregu power (sale of the remaining FGN 20% shareholding) and, Abuja Water Board (AWB). Others are Abuja International Conference Centre, Sale of FGN shares in Save Sugar Company (SSC), Desk review and segmentation of al outstanding privatized enterprises into two categories (RBME & Delisting) and, Impact assessment study of privatized enterprises (Fertilizers and Sugar companies).
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