{"id":4737,"date":"2019-11-14T07:41:41","date_gmt":"2019-11-14T07:41:41","guid":{"rendered":"https:\/\/bpe.gov.ng\/?p=2149"},"modified":"2025-09-08T02:16:46","modified_gmt":"2025-09-08T02:16:46","slug":"okoh-lists-privatisation-benefits-on-nigerian-economy","status":"publish","type":"post","link":"https:\/\/bpe.gov.ng\/staging\/okoh-lists-privatisation-benefits-on-nigerian-economy\/","title":{"rendered":"Okoh Lists Privatisation Benefits On Nigerian Economy"},"content":{"rendered":"<p><span style=\"font-family: Century Gothic; font-size: medium;\">The Reform and Privatisation Programme of the Federal Government has impacted positively on some key sectors of the Nigerian economy, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh has declared.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">Speaking at the Nigerian Investment Showcase at Guildhall, London, United Kingdom on the topic:\u00a0<i>Public Sector Deals\u00a0<\/i>recently; Okoh listed some of the sectors as Telecoms, pension and seaports.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">The telecoms sector for instance, he said, Nigeria has achieved almost100% teledensity with over 192 million connected lines while over 146 million lines have been active as at May 31, 2015 and over 40 telecoms licensed in the country.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">He said reform in the sector has also brought about over a million direct and indirect jobs into the Nigerian economy while the ICT sub-sector has witnessed phenomenal growth.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">On pension reforms, Okoh stated that 6.2 million contributors were registered from 180,586 employers as at October 2012 while 55,904 retirees, currently receive their monthly pensions as and when due with the\u00a0<b>\u00a0<\/b>total value of pension industry assets under the Contributory Pension Scheme now at over N9 trillion.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">For the seaports, the DG said they now \u00a0experience faster ship turn-round, faster cargo turn-round and faster truck turn-round times even as there is \u00a0increased competition, lower port charges, lower freight rates \u00a0and \u00a0net financial transfers to the government (lease fees, throughput fees and taxes).<b><\/b><\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">On the Bureau\u2019s 2019 work plan, he revealed that BPE is expected to contribute N220.4 billion to the N8.91trillion 2019 Federal Government\u2019s budget from its privatisation\/<wbr \/>commercialisation activities.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">The funds are expected to come from some concluded transactions along with \u00a0 the Privatisation of the Kano Free Trade and Calabar Free Trade Zones, Partial Commercialisation of the Nigerian Postal Services (NIPOST) and\u00a0<\/span><span style=\"font-family: Calibri; font-size: medium;\">Partial<\/span><span style=\"font-family: Century Gothic; font-size: medium;\">\u00a0commercialisation of three selected National Parks in the country.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">He announced that the federal government would divest from the ten newly built ten gas-fired National Integrated Power Projects (NIPPs) on completion.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\">Okoh further revealed that from inception to date, the Bureau has successfully completed 234 public transactions through privatisation, commercialisation and concessions with the following milestones:<\/span><br \/>\n<span style=\"font-family: Wingdings; font-size: medium;\">\u00a7\u00a0<\/span><span style=\"font-family: Century Gothic; font-size: medium;\">Expanding private sector participation in the Nigerian economy<\/span><\/p>\n<p><span style=\"font-family: Wingdings; font-size: medium;\">\u00a7\u00a0<\/span><span style=\"font-family: Century Gothic; font-size: medium;\">Attracting quality foreign investors and capital<\/span><\/p>\n<p><span style=\"font-family: Wingdings; font-size: medium;\">\u00a7\u00a0<\/span><span style=\"font-family: Century Gothic; font-size: medium;\">Achieving a more efficient allocation of government resources by redirecting \u00a0funding of public enterprises by government to other key sectors of the economy that are socially imperative such as healthcare, education; and \u00a0<\/span><\/p>\n<p><span style=\"font-family: Wingdings; font-size: medium;\">\u00a7\u00a0<\/span><span style=\"font-family: Century Gothic; font-size: medium;\">Encouraging the private sector to be the engine room of economic growth and development.<\/span><\/p>\n<p><span style=\"font-family: Century Gothic; font-size: medium;\"><b>Amina \u00a0Tukur Othman<\/b><\/span><br \/>\n<span style=\"font-family: Century Gothic; font-size: medium;\"><i>Head, Public Communications<\/i><\/span><br \/>\n<span style=\"font-family: Century Gothic; font-size: medium;\">November 13, 2019.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reform and Privatisation Programme of the Federal Government has impacted positively on some key sectors of the Nigerian economy, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. 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Speaking at the Nigerian Investment&#8230;<\/p>\n","protected":false},"author":1,"featured_media":15288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Okoh Lists Privatisation Benefits On Nigerian Economy - Bureau of Public Enterprise<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bpe.gov.ng\/staging\/okoh-lists-privatisation-benefits-on-nigerian-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Okoh Lists Privatisation Benefits On Nigerian Economy\" \/>\n<meta property=\"og:description\" content=\"The Reform and Privatisation Programme of the Federal Government has impacted positively on some key sectors of the Nigerian economy, Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. 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