Why pri­vatis­ing pub­lic coys is nec­es­sary-Se­na­tor

Daily Trust - - BUSINESS - By Zakariyya Adaramola

The Chair­man Se­nate Com­mit­tee on Pri­vati­sa­tion, Se­na­tor Olug­benga Obadara has said that the lack of main­te­nance cul­ture in pub­lic en­ter­prises is one of the rea­sons for pri­vatis­ing them.

He made this known when the Se­nate Com­mit­tee on Pri­vati­sa­tion went on an over­sight visit to Olorun­sogo Power plant in Ogun State, ac­cord­ing to a state­ment yes­ter­day by the Bureau of Pub­lic En­ter­prises (BPE). The state­ment signed by BPE’s Chigbo Anichebe said the sen­a­tors de­cried the poor main­te­nance his­tory, say­ing it greatly af­fected op­er­a­tions of the plant.

Obadara main­tained that where there is ad­e­quate avail­abil­ity of power, there would be ap­pre­cia­ble growth and de­vel­op­ment in Small and Medium En­ter­prises (SMEs) and growth in the Nige­rian econ­omy.

In re­sponse, Dr. Deji Adeleke, the Chair­man, Sepco-Pa­cific Part­ners Limited, own­ers of Olorun­sogo Power Plant, said his com­pany was well aware of the main­te­nance is­sue at the plant when it con­ducted a duedili­gence on the plant fa­cil­i­tated by the BPE.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.