The Federal Government has concluded plans to privatise eight sectors of the economy by 2015.
The sectors are: Road Authority; Roads Funds; National Transport Commission; Railway; Inland waterways; Ports & Harbour reform; Federal Competition and Consumer Protection and Postal bill.
This was announced by the Director General of the bureau Mr. Benjamin Dikki, during the end of 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’’.
He said at present, 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 directive of the Central Bank of Nigeria, CBN.
The restructuring 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%, compared to less than 3% in 2001, he said.
Still on the benefits of the reforms and privatisation, he said Eleme Petrochemical Company has been revitalised and producing at over 99% capacity and has been constantly paying over N4, 000.00 as dividend per share. Cement companies have been revitalized, extended and made profitable.
Dikki, disclosed that to uphold the gains of past reforms and privatisation and enhance the enabling environment for private capital participation in the Nigerian economy, BPE has prepared eight significant bills targeted for passage into law.
The bills are railway bill, port and harbour bill, roads authority bill, inland water ways bills; National transport commission bill, Roads fund bill, federal competition and consumer protection bill as well as postal bill.
In addition, Dikki stated that besides these bills, the bureau is working with the appropriate ministries to reform Health, Housing, Sports and Tourism sectors of the country by reviewing the policy, legal and regulatory frameworks for these sectors.