Four committees have been set up to look into the challenges hindering the growth of some corporations that were recently taken over by some core investors, following the Federal Government’s privatisation of some state-owned assets ten years ago.
The Bureau of Public Enterprises (BPE), which instituted the committees, said the move is part of its responsibility to make sure that all privatised entities provide dividends to Nigerians in line with the privatisation policy of the federal government.
The committees are expected to provide the policy direction that will give further insight into the nature of the problems facing the sectors where the privatised entities operate. They will also proffer viable solutions to the problems.
The four committees will be focusing on the housing sector, Mines & Steel Development, Oil Palm, and Automobile. Note that another committee was earlier inaugurated to look into privatised Paper Mills companies.
Speaking during the inauguration of the committees, the Director General of the Bureau of Public Enterprises, Mr Alex A. Oko, said that the National Council on Privatisation recently came to the realisation that privatised entities in Nigeria have recorded sub-optimal performances over the past ten years. This resulted in losses for the country, seeing as these corporations are integral to the Nigerian economy.
It is, therefore, in recognition of this fact that the BPE is taking measures to change things for the better, Mr Okoh said.
He implored members of the committees to work assiduously and submit their report within 90 working days’ timeline.
The Committee members were drawn from all the relevant sectors, ministries, the Bureau of Public Enterprises (BPE) and the private sector.
Meanwhile, as part of effort to resuscitate the non-performing corporations, the National Council on Privatisation also directed the Bureau of Public Procurement to put together a platforms that will bring MDAs and core investors together.