.Power, infrastructure, food security also in focus
BY COBHAM NSA, ABUJA – The Bureau of Public Enterprises (BPE) is shaking off years of stagnancy to resume preliminary activities for the partial commercialisation of Federal Government-owned media organizations in the country.
Similarly, the Bureau said its current initiatives are meant to positively impact the Nigerian economy in areas of power generation and supply, improvement in infrastructure, food security and human capital development for Nigeria’s overall socio-economic growth and development.
Addressing the Nigerian Guild of Editors (NGE) conference in Port Harcourt, Rivers State, Director General of BPE, Mr. Alex A. Okoh however said collaboration with all stakeholders, including the media, is crucial to deliver on the laudable objectives of growing the economy sustainably.
He said targeted by the commercialization exercise are the Nigerian Television Authority (NTA), the News Agency of Nigeria (NAN), the Federal Radio Corporation of Nigeria (FRCN) and the Nigerian Film Corporation (NFC).
Okoh said the Bureau has already commenced a diagnostic review of the media sector, especially in relations to the affected organizations, adding, “The reform of the media sector will open up and create a level playing field in the sector and ensure fair competition and operational efficiency.
“The essence of the proposed partial commercialisation programme is to institutionalise commercial principles in the operations of the four government-owned entities thereby enabling them to operate optimally in a market-driven environment”.
A statement by the Bureau’s Head, Public Communications, Chukwuma Nwokoh, also quoted the Director General as identifying the power sector recovery initiative as another major focal area for the BPE in the on-going exercise.
According to him, areas of coverage would include privatisation of the Afam Power plant; concessioning of Terminal “B” Warri Old Port; restructuring and capitalisation of Bank of Agriculture (BOA); and the partial commercialization of 12 River Basin Development Authorities (RBDAs). Others are partial commercialization of Nigeria National Parks Service/the concession of three selected National Parks and the re-privatisation of the Yola Distribution Company (DISCO) through core investor sale.
The Director General, represented by his Technical Assistant, Mr. Ademola Aofolaju, said BPE has successfully reformed a total of 142 public enterprises through various privatisation strategies since the programme’s inception till date, adding these include: ‘63 by core investor sale; nine by Guided Liquidation; one sale to existing shareholders; five public offers and two Liquidations.’ Others are eight private placements; 41 concessions; two debt/equity swaps; and 11 sales of assets.
Insisting that government’s reform initiatives across various sectors have impacted significantly on the economy, Okoh listed the National Pension Commission (PENCOM); Economic and Financial Crimes Commission (EFCC); Debt Management Office (DMO); Nigerian Electricity Regulatory Commission (NERC); and liberalisation of the telecommunications industry among the major success stories over the years.
