FG to Revive Privatised Non-performing Enterprises
The federal government has promised to resuscitate non-performing privatised enterprises which were sold about 10 years ago.
About 37 per cent of the privatised enterprises are reported to be non-performing.
This prompted the federal government to set up four inter-agency committees on the resuscitation of ailing/non- performing privatised enterprises in the country.
The committees yesterday submitted their reports to the Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh in Abuja, who reiterated the Bureau’s commitment to collaborate with relevant agencies to resuscitate and bring to life, the moribund enterprises.
Receiving the reports of the committees, Okoh expressed the hope that with the wealth of experience, expertise, commitment, diligent and intellectualism exhibited by the members in the course of carrying out their assignment, the outcomes would bring the desired solution to the non-performing privatised enterprises.
He said the affected enterprises, privatised about 10 years ago were 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 the privatisation and reform programme of the federal government.
Okoh said this prompted the government, through the National Council on Privatisation (NCP) to direct the BPE to investigate the cause(s) of their inability to perform; and also proffer viable and acceptable solutions to resuscitating them to perform optimally, create employment, boost the economy and increase gross domestic product (GD), among other benefits.
He assured that the findings of the committees would be shared among all stakeholders so as to spur them to meet their organisational objectives and that of the federal government’s privatisation and reform programme.
The BPE DG noted that the federal government on its part would implement the recommendations as it has the political will to do so.
As a sign of honour and appreciation for the diligent and good work of the committees, Okoh issued each member with a Letter of Commendation at the event.
In his remarks, the Director, Post Transaction Management at the Bureau, Mr. Toibudeen Oduniyi, thanked the committees for the support and diligence in preparing the reports.