FG to conduct impact assessment on privatised enterprises …underperforming power firms know fate in December
The Federal Government is set to conduct an Impact Assessment on some selected privatised enterprises under the reform and privatisation programme.
The Bureau of Public Enterprises (BPE) will carry out the exercise in collaboration with the National Bureau of Statistics (NBS) and Nigeria Institute of Social and Economic Research (NISER).
The Director General of the Bureau, Mr. Alex A. Okoh who disclosed this at the inaugural meeting of the Assessment Technical Working Group (ATeWG) held in the BPE office in Abuja said the essence is to enable the FG showcase the impact or otherwise of the Privatisation programme.
The Director General who was represented by the Director of Development Institutions and Natural Resources Department (DI & NR) in the Bureau, Mr. Joe Anichebe noted that, “After three decades of the privatisation programme, the Bureau deemed it necessary to review the performances of the privatised enterprises to ascertain whether or not the targeted objectives of the programme have been achieved.”
The Assessment Technical Group which is chaired by a Deputy Director in the Bureau, Mr. Adbdul-Azeez Mu’azu Mafindi, has membership drawn from the NISER, NBS and BPE.
The group is to carry out neutral assessment of the Bureau’s concluded transactions to showcase the achievements and challenges encountered by the privatised enterprises as well as monitor the growth, and efficiency of privatised enterprises.
It is also to evaluate and assess the effectiveness of privatised enterprises using relevant and accurate data used in planning effective interventions.
Assessment Study will be carried out on six sectors namely; The Telecommunications Sector, Maritime Sector (Ports), Eleme Petrochemicals Company, Cement Companies, Ground Handling companies (NAHCOL & SAHCOL), and the Hospitality Sector.
Meanwhile, the December 2019 for of performance companies (DisCos).
The Director General BPE Mr. Alex A. Okoh disclosed that following the interest shown by various stakeholders in the electricity industry and indeed the general public with regards to the date for the final review of the performance of the privatised electricity distribution companies (DisCos), the agency fixed next month for the review.
But a source said yesterday that some underperforming power firms would be asked to recapitalise and look for more investors.
The source who didn’t want his name mentioned because he was not cleared to speak on the issue said many of the Discos ‘’would be forced to recapitalise by taking in more investors who have the financial muscle to run the business.’’
Pursuant to the successful conclusion of the privatisation transaction for 10 of the DisCos, the utility companies were handed over to the core-investors on the 1st of November 2013.
The Performance Agreements signed in August 2013 provided, amongst other performance indices, that the core investors covenanted to achieve agreed reduction targets of aggregate technical, commercial and collection losses. BPE has set the final review of Distribution