The Bureau of Public Enterprises (BPE) has so far contributed N135bn out of the N220bn it is expected to generate for the 2019 fiscal budget, Director General of the privatisation agency, Mr. Alex A. Okoh has revealed.
Head, Public Communications, Amina Tukur Othman, said in a statement Sunday that the DG spoke at an interactive forum with the Senate Committee on Privatisation at the National Assembly recently where he said the bureau is expected to contribute the N220bn in line with the Medium-Term Framework submitted by the federal government to the National Assembly for 2019 budget.
He said the N135bn was generated through the sale of the Afam Electricity Generation Company (Afam Power Plc and Afam Three Fast Power Limited),re-privatisation of the Yola Electricity Distribution Company (YEDC) and sale of 29 percent Federal Government’s shares in the Geregu Power plant.
He regretted that out of the N2bn allocated to the Bureau yearly from the national purse for its operations, N1.5bn is for staff emoluments through the Integrated Pay role and Personnel Information System (IPPIS) and “of the N500m that is supposed to come to the Bureau for overheads and capital expenditure, only about 15 percent of the amount is eventually released to the Bureau against what is obtained in other revenue generating agencies of the Federal Government”.
Earlier, the Chairman of the Senate Committee on Privatisation,Chief Theodore Orji had reiterated the importance of privatisation as the key driver of the Nigerian economy and pledged the support of the Committee to the Bureau.