Osinbajo tasks privatisation council on economic growth

Vice President, Prof. Yemi Osinbajo, has charged members of the reconstituted National Council on Privatisation (NCP) to dedicate themselves to contributing to the country’s economic growth and development.

This is contained in a statement on Tuesday in Abuja by Mr Ibeh Chidi, Head, Public Communications, Bureau of Public Enterprises (BPE).

The statement said Osinbajo, the Chairman of NCP, gave the charge while inaugurating the Council at the Presidential Villa.

“This inauguration marks another milestone in our administration’s drive towards economic rejuvenation and liberalisation as the pathway to unleashing the immense potentials of Nigeria’s economy,” Osinbajo said.

He said the challenges included the reform of the National Electric Power Industry (NESI) and continuation of the reform in the River Basin Development Authorities and National Parks sub-sector.

Others are reform of the transport sector, commercialisation of enterprises in the Communications and Media sector, the pending reform bills for the keys sectors of the nation’s economy.

He called for robust monitoring of privatised enterprises, embracing Public-Private Partnerships for the provision of infrastructure and identification and optimisation of public assets.

“We are required to take appropriate steps to ensure that the interests of the various segments of our society, particularly the ordinary citizens, are protected in the implementation of the reform programme,” he said.

The Vice President further charged the members to diligently carry out the statutory responsibilities assigned to the Council as encapsulated in the Public Enterprises (Privatisation and Commercialisation) Act of 1999.

He reminded the new members that the NCP was statutorily mandated to determine and formulate strategic plans and approve policies on privatisation, commercialisation and reforms of the various sectors of the economy.

Osinbajo called on the Council to approve the legal and regulatory framework for public enterprises,   review occasionally, the socio-economic effects of privatisation and commercialisation and decide on appropriate remedies.

“Your appointment as members of the Council is a unique opportunity to utilise your well-acknowledged skills and experience to contribute to the socio-economic development of our country.

“Some of the cardinal objectives of the economic agenda of this administration are to ensure accelerated growth of the economy and provide infrastructure.

“The objectives include creating jobs and providing suitable environment for productive activities to flourish and tap our enormous natural wealth for the benefit of our people,” he said.

Other statutory members of the reconstituted NCP are Mrs Zainab Ahmed, Vice Chairman and Minister of Finance, Budget and National Planning, Otunba Adeniyi Adebayo, Minister of Trade, Industry and Investment.

The membership also includes Mr Abubakar Malami, Minister of Justice and Attorney-General of the Federation, Mr Boss Mustapha, Secretary to the Government of the Federation, Mr Godwin Emefiele, Governor of the Central Bank of Nigeria.

Others are Mr Adeyemi Dipeolu, Special Adviser to the President on Economic Matters and Mr Muhammad Ahmad, Hon. Nasidi Ali, Mr Remi Morgan and Dr Marius Adimmadu who represent the private sector.

Mr Alex Okoh, Director General, BPE, will serve as member/secretary.