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Published On: Wed, Mar 26th, 2014

BPE unveils 2014 work plan

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  • …Expects over N746bn gross proceeds from transactions

By Etuka Sunday

The Bureau of Public Enterprises (BPE) yesterday unveiled its 2014 work plan with expected gross proceeds of over N746 billion from both definite and prospective transactions.

The Director General, Bureau of Public Enterprises (BPE), Mr Benjamin Dikki while briefing newsmen on the plan said, “In the 2014 work plan, the Bureau has proposed to handle a total of 23 definite Transactions and a total of 29 Prospective Transactions. Consequently, we envisage gross proceeds of N535.3 billion from the definite transactions. We hope to realise about N211.3 billion from prospective transactions when they are executed.”

Dikki said the National Council on Privatization (NCP) in approving the 2014 Work Plan reviewed the performance of the 2013 approved work plan, saying that in 2013, the Council charged the BPE with mostly the conclusion of the privatization of the unbundled 17 of the 18 PHCN successor companies which was successfully done.

“Council noted with satisfaction that at the end of 2013, gross transactions revenue was N397.7 billion, mostly generated from PHCN transaction,” he added.

He said “in the same year under review, NaCP equally approved the appointment of a Liquidator for the guided liquidation of NITEL/MTEL pending court confirmation. That processes is continuing in 2014 and is also reflected in the 2014 work plan.

“In 2013, Council had also approved in that work plan the inauguration of the Project Advisory Teams (PAT) for the Housing, Stadia and National Parks of which all PATs have been inaugurated and work has reached an advanced stage. Each Advisory Team’s draft policy, legal and regulatory frameworks will be presented to NCP in 2014 for approval.

The DG gave the 2014 Key Performance Indicators (KPIs) to include: Passage of the eight (8) reform bills currently before the Federal Executive Council for approval; Implementation of the approved transactions; Effective and robust monitoring of privatized enterprises; Effective public enlightenment and stakeholders engagement and Enhancement of the IT infrastructure of the Bureau.

“The critical element in the 2014 work plan will be the review and follow up, until passage of the eight reform bills currently before the FEC for approval. The Bills have been reviewed and finalized by the office of the Attorney-General of the Federation and presently before the Federal Executive Council (FEC),” he said.

He said the passage of the bills would lead to the abrogation of monopoly sector laws, liberalization of the sector and set up of regulatory agencies.

“In pursuit of the Goodluck Transformation Agenda, these Bills seek to create an enabling environment for private sector investments in these various sectors of the economy. The expected outcomes are inflows of private sector investments, job creation and economic growth,” he concluded.

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