Nigeria commits to resuscitate moribund privatised entities

Mr Alex Okoh, the Director-General, Bureau of Public Enterprises (BPE), says Nigeria has the political will to resuscitate ailing and non-performing privatised enterprises.
Okoh said this in a statement issued on Friday by BPE’s Head of Public Communications, Amina Othman.
According to Othman, Okoh gave the assurance when he received the report of the Federal Government’s four inter agency committees on the resuscitation of ailing/ non- performing privatised enterprises in the country.
At the event, he also assured of BPE’s commitment to collaborate with relevant agencies to resuscitate and bring to life, the moribund enterprises.
He said he hoped that with the wealth of experience, expertise, commitment, diligence and intellectualism exhibited by the members in the course of carrying out their assignment, the outcome would bring the desired solution to the non-performing privatised enterprises.
Okoh said that the affected enterprises which were privatised about 10 years ago in the automobile sector, bricks and clay (housing) sector, oil palm sector, mines and solid minerals sector and others failed to meet the aim of privatisation and 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.
“Also to proffer viable and acceptable solutions to resuscitating them to perform optimally, create employment, boost the economy and increase Gross Domestic Product (GDP) among other benefits.”
He assured that the findings of the committees would be shared among all stakeholders in order to spur them to meeting their organisational objectives and that of the Federal Government’s privatisation and reform programme.
He added that the Federal Government on its part would implement the recommendations because it had the political will to do so.
In appreciating the committee members for their diligence and good work, the director-general issued each member with a Letter of commendation.
The BPE recalled that on March 23, it inaugurated the four committees to help resolve the complexities and challenges hindering the growth and development of some privatised enterprises.
The committees were made up of members drawn from the relevant sectors, ministries, BPE and the private sector.
This was necessitated by the need to incorporate more experts and relevant stakeholders to contribute meaningfully towards achieving the desired goals as envisaged by the Federal Government towards ensuring that the moribund enterprises were performing optimally to boost economic development.