The Federal Government has inaugurated four Technical Working Groups (TWGs) to review and implement a strategic roadmap for the resuscitation of ailing enterprises in the country.<\/p>\n\n\n\n
A statement issued by the Head, Public Communication, Bureau of Public Enterprises (BPE), Chidi Ibeh, in Abuja on Monday, noted that the bureau\u2019s Director-General, Alex Okoh, inaugurated the TWGs on behalf of the Federal Government.<\/p>\n\n\n\n
Okoh said the TWGs were inaugurated for the Automobile, Housing (Bricks and Clay), Mines and Steel as well as Oil Palm sectors.<\/p>\n\n\n\n
He said the initiative was in consonance with the ease of doing business in Nigeria and in line with the Federal Government\u2019s Economic Recovery and Growth Plan (ERGP).<\/p>\n\n\n\n
Okoh was represented by the Director, Agriculture and Natural Resources, BPE, Mr Ignatius Ayewoh, at the inauguration of the TWGs.<\/p>\n\n\n\n
The director-general noted that the event was a culmination of the efforts by various stakeholders which started in 2018 to revive non-performing privatised enterprises in the country.<\/p>\n\n\n\n
He said that BPE in discharging its supervisory duties on privatised enterprises through the instrumentality of Result-Based Monitoring and Evaluation (RBME), discovered that about 16 per cent of the privatised companies were non-performing.<\/p>\n\n\n\n
\u201cHence the result of the finding was submitted to the National Council on Privatisation (NCP) in 2018 and to the Senate Committee on Privatisation in 2020.<\/p>\n\n\n\n
\u201cThis led to a meeting of the relevant stakeholders in the ailing enterprises held in July 2018,\u201d the director-general said.<\/p>\n\n\n\n
Okoh said the Terms of Reference (TORs) for the Working Groups include:<\/p>\n\n\n\n
\u201cConduct a diagnostic study on the enterprises to identify their current status (operational and financial positions) and conditions in terms of ownership, share structure and capacity utilisation.<\/p>\n\n\n\n
\u201cPrepare a business plan that meets the current sectoral requirements; examine the challenges in the sectors; and develop a comprehensive five-year, (2023-2027) Turnaround Programme for each of the non-performing enterprises.<\/p>\n\n\n\n
\u201cReview and advise the Federal Government on the processes and implementation of the Turnaround Programme and determine the potential and economic viability of the sectors, amongst others,\u201d he said.<\/p>\n\n\n\n
The Director, Post-Transaction Management, BPE, Mr Toibudeen Oduniyi, urged members to contribute their wealth of experience and expertise for the actualisation of the much-desired revitalisation of the non-performing enterprises.<\/p>\n\n\n\n
The representatives of the various committees thanked the bureau for selecting them to work on the committees and promised to work for the betterment of the nation\u2019s economy.<\/p>\n\n\n
The Federal Government has inaugurated four Technical Working Groups (TWGs) to review and implement a strategic roadmap for the resuscitation of ailing enterprises in the country. A statement issued by the Head, Public Communication, Bureau of Public Enterprises (BPE), Chidi Ibeh, in Abuja on Monday, noted that the bureau\u2019s Director-General, Alex Okoh, inaugurated the TWGs […]<\/p>\n","protected":false},"author":2,"featured_media":31260,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1366,949],"tags":[648],"class_list":["post-45180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-economy","tag-enterprises","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n