The Federal Government has inaugurated four Technical Working Groups(TWGs) to review and implement a strategic roadmap for the resuscitation of ailing enterprises in the country.
The sectors set for implementation are; automobile, housing, mines and steel as well as oil palm.
Inaugurating the TWGs on behalf of the Federal Government in Abuja, Director-General of the Bureau of Public Enterprises (BPE), Mr Alex A. Okoh said the initiative is in consonance with the ease of doing business in Nigeria and in line with the Federal Government’s Economic Recovery and Growth Plan (ERGP).
Okoh who was represented by the Director, of Agriculture and Natural Resources at the bureau, Mr Ignatius O. Ayewoh noted that the event is a culmination of the efforts by various stakeholders which started in 2018 to revive non-performing privatised Enterprises in the country.
He stated that BPE in discharging its supervisory duties on privatised enterprises through the instrumentality of result-based monitoring and evaluation (RBME), discovered that, about 16 per cent of the privatised companies were non -performing hence the result of the finding was submitted to the National Council on Privatisation (NCP) in 2018 and to the Senate Committee on Privatisation in 2020, leading to a meeting of the relevant stakeholders in the ailing enterprises held in July 2018.
In a statement issued on Monday in Abuja by Ibeh, Uzoma Chidi, Head, Public Communications, he listed the Terms of Reference (TORs) for the Groups as: “Conduct a diagnostic study on the enterprises in order to identify their current status, both operational and financial positions, and conditions in terms of ownership, share structure and capacity utilisation, and prepare a business plan that meets the current sectoral requirements,”
Others are: “Examine the challenges in the sectors, develop a comprehensive 5-year plan between 2023 to 2027, turnaround programme for each of the non-performing enterprises; review and advise the Federal Government on the processes and implementation of turnaround programme, and determine the potential and economic viability of the sectors.”
Also speaking at the event, Director, Post-Transaction Management at the BPE, Mr Toibudeen Oduniyi, urged the members to contribute their wealth of experience and expertise for the actualisation of the much-desired revitalisation of the non-performing Enterprises for the economic growth of the country.
The representatives of the various committees thanked the bureau for selecting them to work on the committees and promised to work for the betterment of the nation’s economy.
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