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Only 63% Of Privatised Entities Doing Well – BPE Boss

The Director General of the Bureau for Public Enterprises (BPE), Mr .Alex Okoh, on Monday confirmed that only 63 percent of the privatised enterprises in the country is currently doing well while  the others are under-performing in their economic roles.

Okoh, who made this disclosure at the opening session of the  Enterprise Stakeholders and Investors’ Forum held in Abuja, said that a total of 142 enterprises had been privatized from the inception of the  privatization programme in the 1980s to December last year.

The BPE boss explained that a performance monitoring exercise conducted on 94 of the privatized entities so far by his agency.

He listed the sectors covered as including, the transport sector to vehicle assembly plants, oil palm, cement, hospitality, mines and steel, national facilities, fertiliser, bricks and clay, oil and gas, ports, power and communication.

According to him, the assessment is based on an analysis of the covenants and levels of compliance, challenges and recommendations from 2010 to 2017.

Okoh explained that the forum was organized to provide insight into core investors and potential investors of some of the investment and fiscal policies of the government in order to create networking opportunities and facilitate communication among operators in the private and public sectors.

In his remarks at the forum, the Vice President and chairman of the National Council of Privatisation (NCP), Prof. Yemi  Osinbajo,  who was represented by his Deputy Chief of Staff, Mr Ade Ipaye, noted that primary aim of the privatization and commercialization programme was to promote the nation’s socio-economic development.

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