FG commences partial commercialisation of 4 River Basin Development Authorities

THE Federal Government has begun the partial commercialisation of four River Basin Development Authorities (RBDAs) in the country.

Mr Alex Okoh, Director General, Bureau of Public Enterprises (BPE), in a statement issued by Amina Othman, Head, Public Communications, BPE, on Friday in Abuja, said the RBDAs are the Niger-Delta, Sokoto-Rima, Ogun-Osun and Upper Niger.

He said this at the kick-off meeting for the commencement of transaction advisory services by Agri-Africa Consultant A and E Law and Partnership Consortium for the partial commercialisation of the four RBDAs.

According to the statement, Okoh expressed delight at the commencement of the project, adding that the main objective of the advisory service is to restructure and reposition the RBDAs for partial commercialisation and optimum performance.

                                 ALSO READ: Kaduna to have a new refinery

He added that the kick-off meeting was to formally introduce the advisers to the Minister of Water Resource, Mr Suleiman Adamu and other key stakeholders.

“The consortium’s scope of work is to provide the requisite advice and support required for the Federal Government to successfully implement the partial commercialisation of the RBDAs in a manner of consistent with relevant national policies, laws and international best practices.

“The consortium is expected to conduct a diagnostic study on the four RBDAs, define their business objectives and develop a strategic plan to achieve its operational goals.

“It will also identify, verify, record, classify and value the key assets of the RBDAs including the status of title documents of their lands.”

Okoh said in conjunction with the BPE that it would also implement the partial commercialisation of the RBDAs, develop a quality management system, make a chart of accounts and opening balance sheets based on internationally acceptable standards.

The consortium is also mandated to introduce operational tools developed through a one-off training and incorporate, restructure and reposition the four named RBDAs to be self-sustaining.

The Water Resources Minister, Adamu was represented at the occasion by Mr John Chigbo, Director, River Basins Authority and Inspectorate of the Ministry.

Adamu said the RBDAs project was in line with the vision of the ministry and promised to support and cooperate with the adviser in the course of the project.

Mr Chigbozu Ekwekwuo, the team leader of the consortium,  said the consortium had assembled a credible team to deliver the project and make agriculture work in Nigeria.

The BPE was created through the Public Enterprises (Privatisation and Commercialisation) Act 1999, to diversify the economy and strengthen the private sector as Nigeria’s engine of growth and economic driver.