FG to privatise railways, inland waterways, 6 others in 2015

Posted by News Express | 18 December 2014 | 2,743 times

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The Federal Government has concluded plans to privatise eight new entities in some sectors of the economy by 2015.

These sectors include Railways, Inland Waterways; Road Authority; Roads Funds; National Transport Commission, Ports & Harbours, among others.

Director General of Bureau of Public Enterprises, Benjamen Dikki, disclosed this during the end-year workshop of the Commerce and Industry Correspondence Association of Nigeria (CICAN) in Lagos, saying: “Government is riding on the success story of the previously privatised Public Enterprises, PEs, such as banking, power, telecom, marine, steel sectors of the economy, etc."

According to him, “Today, the banking and finance sector is the most developed sector in Nigeria, efficiently and effectively responsible for implementing all government’s economic and financial policies under the regulation of the Central Bank of Nigeria, CBN

"The reform of the telecom sector remains the most successful, in terms of its impact on the economy. For example, Nigeria’s tele-density has been raised from 450,000 telephone lines in 2001 to over 134.5 million as at September, 2014; today, telecom contributions to the GDP is now 8.53 percent , compared to less than 3 percent in 2001.”

Still stressing the benefits of the reforms and privatisation, he said: “Eleme Petrochemical Company has been revitalised and producing at over 99 percent capacity and has been consistently paying over N4, 000.00 as dividend per share. Cement companies have been revived, expanded and made profitable, etc.”

Dikki stated that to sustain the gains of past reforms and privatisation and enhance the enabling environment for private capital participation in the Nigerian economy, BPE has prepared eight critical bills targeted for passage into law.

The bills are roads authority bill, railway bill, port and habour bill, inland water ways bills; Roads fund bill; National transport commission bill, federal competition and consumer protection bill as well as postal bill.

Additionally, Dikki said that besides these bills, the bureau is working with the relevant ministries to reform Sports, Tourism, Health and Housing sectors of the country by reviewing the policy, legal and regulatory frameworks for these sectors.

•Adapted from Vanguard. Photo shows BPE DG, Dikki.

Source: News Express

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