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The Federal Authorities has introduced a highway map to evaluation and implement methods for the resuscitation of ailing enterprises in Nigeria.
This was disclosed in a press release by the Head, Public Communication, Bureau of Public Enterprises (BPE), Chidi Ibeh, in Abuja on Monday, in line with the Information Company of Nigeria.
The BPE Director-Common, Alex Okoh, inaugurated the 4 Technical Working Teams (TWGs) to evaluation the roadmap for the FG. He famous that 16% of the privatized corporations have been non-performing
What the BPE is saying
The BPE Chief famous that the TWGs have been inaugurated for the Vehicle, Housing (Bricks and Clay), Mines, and Metal in addition to Oil Palm sectors.
He mentioned the initiative was in consonance with the benefit of doing enterprise in Nigeria and consistent with the Federal Authorities’s Financial Restoration and Development Plan (ERGP).
OKoh added that the occasion was a end result of the efforts by numerous stakeholders which began in 2018 to revive non-performing privatized enterprises within the nation, citing that the BPE in discharging its supervisory duties on privatized enterprises by way of the instrumentality of Outcome-Primarily based Monitoring and Analysis (RBME), found that about 16% of the privatized corporations have been non-performing.
“Therefore the results of the discovering was submitted to the Nationwide Council on Privatisation (NCP) in 2018 and to the Senate Committee on Privatisation in 2020.
“This led to a gathering of the related stakeholders within the ailing enterprises held in July 2018,” the director-general mentioned.
Okoh mentioned the Phrases of Reference (TORs) for the Working Teams embrace:
“Conduct a diagnostic examine on the enterprises to determine their present standing (operational and monetary positions) and situations when it comes to possession, share construction, and capability utilization.
“Put together a marketing strategy that meets the present sectoral necessities; look at the challenges within the sectors; and develop a complete five-year, (2023-2027) Turnaround Programme for every of the non-performing enterprises.
“Assessment and advise the Federal Authorities on the processes and implementation of the Turnaround Programme and decide the potential and financial viability of the sectors, amongst others.”
Advisable Studying: Alternatives within the oil sector
What you need to know
- Nairametrics reported final month that Director-Common of the Bureau of Public Enterprise, Mr. Alex Okoh introduced that it has efficiently accomplished the takeover of struggling distribution corporations, together with Kaduna, Kano, Ibadan, and Port Harcourt DISCOs
- The DisCos have been compelled below new administration over poor debt administration points
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