FG To Privatise Railways, 7 Others In 2015

BPE-LOGO

The Federal Government will in 2015, privatise eight new entities in the Railway; Inland waterways; Road Authority; Roads Funds; National Transport Commission; Ports & Harbour reform; Federal Competition and Consumer Protection and Postal bill sectors of the economy.

Director General of the Bureau of Public Enterprise (BPE), Benjamin Dikki disclosed this during the end year workshop of the Commerce and Industry Correspondence Association of Nigeria (CICAN) in Lagos.

“Government is riding on the success story of the previously privatised Public Enterprises (PEs), such as banking, power, telecom, marine, steel sectors of the economy, etc.,” he said.

“Today, the banking and finance sector is the most developed sector in Nigeria, efficiently and effectively responsible for implementing all government’s economic and financial policies under the regulation of the Central Bank of Nigeria (CBN).

“The reform of the telecom sector remains the most successful in terms of its impact on the economy. For example, Nigeria’s tele-density has been raised from 450,000 telephone lines in 2001 to over 134.5 million as at September, 2014; today, telecom contributions to the GDP is now 8.53 per cent , compared to less than 3 percent in 2001,” Dikki said.

“Eleme Petrochemical Company has been revitalised and producing at over 99 percent capacity and has been consistently paying over N4,000.00 as dividend per share. Cement companies have been revived, expanded and made profitable, etc.”

Speaking further, Dikki stated that in order to sustain the gains of past reforms and privatisation, as well as enhance the enabling environment for private capital participation in the Nigerian economy, BPE has prepared eight critical bills expected to be passed into law. They are roads authority bill, railway bill, port and habour bill, inland water ways bills; Roads fund bill; National transport commission bill, federal competition and consumer protection bill as well as postal bill.

the bureau is ALSO working with the relevant ministries to reform Sports, Tourism, Health and Housing sectors of the country by reviewing the policy, legal and regulatory frameworks for these sectors, Dikki added.

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BPE, Dikki, Economy, nigeria, privatisation

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