Fidelity bank card banner Camano banner
BPE DG reviews data of failed privatised enterprises

By News Express on 26/04/2016

Views: 2,909

The Acting Director-General of the Bureau of Public Enterprises (BPE), Mr Vincent Akpotaire, said on Monday the Bureau was reviewing the data of failed privatised enterprises, to ascertain their performance index and upscale them.

This is contained in a statement by its Head, Public Communications, Mr Alex Okoh, on Monday in Abuja.

According to the statement, his administration will partner with anti-graft and security agencies in the country to carry out thorough due diligence on prospective investors willing to buy government assets.

The BPE boss decried that in spite the huge success the Bureau had recorded in the reform and privatisation programme of the Federal Government, only the failed exercises were usually highlighted.

He listed the reforms in the banking, telecoms, pension, petroleum services, cement companies and hotel industries as some of the reforms carried out by the bureau.

He said that those reforms had impacted positively on the Nigerian economy but “most Nigerians do not give the Bureau the credit.”

Akpotaire said the pending reforms in the agricultural sector would create jobs for the teeming rural youth.

It would also rejuvenate the over 380,000 hectares of land for irrigation around dams which the Federal Government had invested in but which were substantially lying fallow.

The statement also said that the Federal Government was planning to reform the seven National Parks to become foreign exchange earners for the government in view of the dwindling revenue from oil.

Akpotaire said the Abuja Commodity Exchange would commence operations in the next nine months as soon as the Federal Government approved its privatisation.

He added that the World Bank was funding the advisory services for the effort.

The BPE boss said the sector needed a regulator to check activities of the operators of the housing sector.

“The essence is to create a housing sector where social housing will be delivered to the teeming Nigerians through a partnership involving the Federal Government, state governments and the private sector.”

In another development, Akpotaire said that the power privatisation had brought to the fore the problems inherent in the sector which hitherto were ignored.

He said the privatisation in particular had exposed the neglect in funding of the sector which led to obsolete equipment and untrained manpower.

The DG decried the attitude of ex-workers of the defunct Power Holding Company of Nigeria (PHCN) who blocked offices of the new power owners over the non-payment of their severance benefits.

“These owners have no business with the ex-PHCN workers as the entire money realised from the sale of the power assets was committed to pay their severance.

“From the over 47,000 staff of the PHCN that were duly verified and cleared, only about 1,000 of them have not been paid.

“This has to do with the documentation of the affected staff as many of them are not forthcoming with verifiable documents to aid the process.”

He stated that the Bureau was making new efforts to re-engage labour to ensure that the matter was closed. (NAN)

•Photo shows BPE Acting DG, Vincent Akpotaire.

Source News Express

Posted 26/04/2016 04:49:20 AM





You may also like...
Strike out suit seeking to compel EFCC to...

Osinbajo signs 2017 Budget into law tomorrow

Konga announces new YAKATA dates, appreciates customers for...

Ogun to prioritise rural development in 2016 •Suffers...

Church killings: Ozubulu set for memorial mass for...

Ogun sacks striking NLC, NUT leaders

Death on the prowl in Ogoniland

European leaders meet to tackle illegal migration

FG unfolds 10-point economic roadmap

‘Ladies Calling The Shots’ launched in Lagos

New secretaries take over in Kaduna’s 46 development...

NiMet predicts cloudy skies, moderate rains for Tuesday...


Latest News Herdsmen: Ohanaeze youths declare state of emergency in South-East •Task state governors 3 Nigerians, 4 others arrested for hacking into 2,000 accounts in India Soldier, 2 NSCDC personnel killed in Ogoni by cultists, illegal oil bunkerers Face-off: Bode George should shut up, leave PDP — Jimi Agbaje 6 suspected telecom mast vandals nabbed in Rivers Ikpeazu appoints Transition Chairmen, deputies for Abia councils NYSC to communicate payment of new N30,000 allowance to corps members Leadership failure Nigeria’s biggest problem — Obi Police begin investigation of abduction, attack in Enugu 20 per cent of teachers in Bauchi State payroll are ghost workers — Gov Project cost: FG to stop outsourcing foreign professionals Appeal Court upholds Ihedioha’s election as Imo Governor


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,246 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,376 views) Shameless Genevieve Nnaji exposes breasts in public (365,147 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (311,789 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,098 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (243,918 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (233,851 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (215,764 views) 10 cars more expensive than Jets (212,451 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,345 views) Lagos plane crash: Journalist releases victims’ names (184,443 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,784 views)


NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (93) Business & Economy (4,308) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (623) Features (761) Global Business Monitor (378) ICT Monitor (53) International (3,592) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (302) News (47,416) Opinion (1,260) Pidgin (17) Politics (11,023) Religion (1,022) Sports (2,043) Stock Watch (39) AMA & Al Jazeera Global Update






APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera