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Uche Usim, Abuja
The Bureau of Public Enterprises (BPE) on Wednesday, disclosed it was projecting a net revenue of N266,852,072,505 for 2020, from its outlined privatisation programmes.
It has also ruled out the possibility of re-nationalising already privatised national assets but preferred to explore collaborative solutions to resolving issues stunting the growth of those performing abysmally.
The Director General of the Enterprise, Mr Alex Okoh, made the disclosure at an interface with journalists in Abuja.
According to him, the BPE plans to carry out nine transactions under the energy sector with a net revenue target of N268.3 billion and an operational cost of N2.1 billion.
The agency also plans to execute three projects under Infrastructure Inland Public Private Partnership (I&PPP) department at the cost of N626.2 million but no revenue.
Okoh said the the mission of the BPE was to increase Federal Government’s revenue from both sales proceeds and tax receipts from the privatised enterprises.
“The 2020 budget is about N10.5 trillion with about N2.1 trillion deficit. So, we need to be more creative in revenue generation to improve public infrastructure.
By 2050, our population would double and that’s about 380-400 milion people. So in order to access the requisite revenue, we as a bureau need to look outside the traditional oil revenue. Look at how we can convert assets to liquidity.
“The objective is also to inject privatisation proceeds into micro-economic activities. There will be growth in real GDP resulting from increase in manutacturing and production of goods and services following availability of needed utilities and infrastructure, among others.
“Broadening of share ownership in the country through diverstitures.
Growth in employment indices through continuous conversion of the high public:private ratio of the country’s labour force to a high private:public ratio”, he said. On the protracted power crisis, Okoh advised that a collaborative solution be sought involving all players in the power value chain, rather than attempting to re-nationalise it.
