Daily Trust

FG to conduct impact assessment on privatised enterprise­s …underperfo­rming power firms know fate in December

- By Zakariyya Adaramola & Ibraheem Hamza Muhammad

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

 ??  ?? Minister of Power Babatunde Fashola
Minister of Power Babatunde Fashola

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