BPE Considers Framework to Check Undue Influences in Privatisation Process

Ndubuisi Francis

The Bureau of Public Enterprises (BPE) is putting in place a framework to rid the processes leading to the privatisation of public assets of undue influences and possible abuses.

The BPE’s Director General, Mr. Alexander Okoh, who made the disclosure in Abuja yesterday on the sidelines of the swearing and signing of pledges by participants of the global anti-bribery and anti-corruption workshop organised by Malkara Consulting, also revealed that to ensure greater accountability and transparency in the sale of assets, the privatisation agency was pursuing the introduction of public offering

This, he said, would whittle down public scepticism and negative perception from certain stakeholders as well as ensure greater buy-in by Nigerians.

“What we want to do going forward, is to put in place a framework that would ensure that there are no undue influences in the process of selling these assets

“Once the public is convinced that these assets are sold in a transparent manner, then, the pushback is that the public antagonism to privatisation will be greatly reduced. We are also trying to emphasise the sale of the assets through public offer.

“Through that process, every retail market woman, civil servant and everybody can buy into these assets and feel a sense of ownership of the divestment of these assets,” he said.

In his address at the event, Okoh noted that privatisation is a key tool for economic growth, adding that in the 30 years of the enterprise reform journey in the country, the federal government had reformed over 140 public enterprises across various sectors.

He regretted that notwithstanding the obvious benefits of and the impact that privatisation has had on the Nigerian economy, there is still a great deal of scepticism from certain stakeholders.