FG earns N397.7bn from privatisation in 2013 – BPE

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The Bureau of Public Enterprise (BPE) has said that N397.7 billion was generated through privatisation transactions in 2013.

The BPE Director-General, Benjamin Dikki, who made this known at a news briefing to unveil the 2014 Work Plan of the bureau, said that the revenue generated from the various privatisation processes in 2013 were mostly from the privatisation of the 17 power companies of the former Power Holding Company of Nigeria (PHCN).

“As you are aware, the bureau is the secretariat and the policy implementation arm of the National Council on Privatisation (NCP). At its first meeting in 2014, the council commended the BPE for the highly successful conclusion of the privatisation of those 17 successor companies created out of the defunct PHCN.

“The council noted with satisfaction that at the end of 2013, gross transactions revenue was N397.7 billion which came mostly from PHCN transactions.

“In the 2014 work plan, the bureau has proposed to handle a total of 23 definite transactions. Consequently, we envisage gross proceeds of N535.5 billion from the definite transactions. We hope to realise about N211.3 billion from prospective transactions when they are executed,’’ Dikki said.

He said the bureau was definite to execute transactions in the transport, information, mines and steel sectors as well as the natural facilities and agricultural resources department in 2014.

“The transactions approved for the transport sector are the privatisation of the Skypower Catering and Hotel Services and the sale of movable assets in the ports.

“The transaction of the Abuja International Airport will recommence subject to consideration of the steering committee. In the information sector, the liquidation of NITEL and MTEL will be concluded, the policy and legal regulatory framework will be reviewed to prepare the ground for the commercialisation of the media enterprises,’’ Dikki said.

According to him, these media enterprises to be commercialised within the year are Nigeria Television Authority, Federal Radio Corporation of Nigeria, National Film Corporation and also the News Agency of Nigeria.

Dikki said that the NCP had approved the sale of residual houses and lands of the Nigeria Coal Corporation (NCC) and also that of the Naraguta and Maiduguri bricks.

He added also that the Ogwashi-Azagba Coal Block would be sold along with the non-core assets of Makeri and Mineral Houses, residential houses and vacant lands.

“The definite transactions in the natural facilities and agricultural resources department are the restructuring and partial privatisation of Bank of Agriculture, the partial privatisation of the Bank of Industry. The privatisation of the Nigeria Commodity Exchange will be finalised within the year,” he said.

According to him, restructuring of the Federal Housing Authority and reform of the housing sector along with the commercialisation of national parks in the country are expected to take place.

In the power sector, Dikki said that the bureau would conclude all pending labour issues, and also sell the non-operational assets at Ojibwa and Calabar power plants.

He said that the privatisation of the 10 Niger-Delta Power Holding Company (NDPHC) power plants which was done earlier this year would be concluded before the end of the year.

Dikki expressed the hope that the labour unions in the oil and gas sector would embrace the idea of privatising the nation’s refineries.

This, he said, would lead to the commencement of the privatisation process in the sector.

“It should be noted that the two labour unions have expressed their willingness to dialogue with government to develop appropriate business models for the refineries.

“In case this eventually works, we will commence the privatisation of Port-Harcourt one and two, Warri and Kaduna refineries,’’ Dikki said.

He said the bureau would pursue the enactment of seven reform bills still pending at the National Assembly to kick start the privatisation process in those sectors.

He said the seven reform bills were the Railway, Inland Water ways, Federal Road Authority, National Transport Commission, Ports and Harbour, Federal Competition and Consumer Protection, and Postal Reform.

Dikki pledged the bureau’s commitment to improve the nation’s economy through its strategised privatisation of government agencies.

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