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Government raises N397.7bn from privatisation in 2013

27 March 2014, 06:57

Abuja - The Bureau of Public Enterprise (BPE) in Abuja on Tuesday said N397.7 billion was generated through privatisation transactions in 2013.

The BPE Director-General, Benjamin Dikki, made this known at a news briefing to unveil the 2014 Work Plan of the bureau.

Dikki said that the revenue generated from the various privatisation processes in 2013 were mostly from the privatisation of the 17 power companies of the former Power Holding Company of Nigeria (PHCN).

 He noted that in the 2014 work plan, the bureau has proposed to handle a total of 23 definite transactions.

``Consequently, we envisage gross proceeds of N535.5 billion from the definite transactions. We hope to realise about N211.3 billion from prospective transactions when they are executed,’’  Dikki said.

He said the bureau was definite to execute transactions in the transport, information, mines and steel sectors as well as the natural facilities and agricultural resources department in 2014.

According to him, these media enterprises to be commercialised within the year are Nigeria Television Authority, Federal Radio Corporation of Nigeria, National Film Corporation and also the News Agency of Nigeria.

He said the bureau would pursue the enactment of seven reform bills still pending at the National Assembly to kick start the privatisation process in those sectors.

He said the seven reform bills were the Railway, Inland Water ways, Federal Road Authority, National Transport Commission, Ports and Harbour, Federal Competition and Consumer Protection, and Postal Reform.

Dikki pledged the bureau's commitment to improve the nation's economy through its strategised privatisation of government agencies.

-     NAN

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