BPE projects N500bn from Privatisation in 2021, says DG
Bureau of Public Enterprises (BPE) said it was projecting to realise the sum of N496.848 billion from the 36 government-owned enterprises slated for privatisation under the 2021 work plan.
The Director General, Mr Alex A. Okoh, who disclosed this while briefing journalists in Abuja, on Monday, said N3.344 billion of the amount was projected as total cost of the exercise while the net expected proceeds of N493.404 billion would be turned into federal government’s coffers.
Giving a breakdown of the figures, the DG explained that under the energy sector involving nine projects, N484.476 billion net revenue would be realized; N9.239 billion from Industries and Communications; and N148.887m from Development Institutions and Natural Resources.
Okoh further disclosed that the Bureau had so far generated N1trillion as proceed from a total of 234 transactions which cut across 14 departments including agriculture, Banking and Finance, Cement Oil and Gas, Power, Telecom and Automobile.
According to him, Infrastructure and Public Private Partnerships would fetch N626.2 million while N212.548 million would be net earnings from the privatisation of nine projects in the Post Transaction Management Department.
He said at the end of every year, “the Bureau undertakes a review of the previous years performance and prepares for the consideration and and approval of the National Council for Privatisation and Commercialisation (NCPC) a new work plan for the succeeding year.
“The work plan articulates the Bureau’s planned activities with achievable timelines taking cognisance of all associated risks and their mitigation action plans.”
