BPE generates N93.47bn revenue, as NCP ratifies audit reports
The Bureau of Public Enterprises (BPE) has reported that it generated the sum of N93.47 billion in the first and second quarters of the year 2024 from three transactions, representing 35.9 percent of the expected revenues during the period under review.
The Director General of the Bureau, Mr Ayodeji Gbeleyi disclosed this at the National Council on Privatization (NCP) meeting chaired by Vice President of Nigeria, Senator Kashim Shettima on Wednesday.
The DG highlighted measures adopted by the agency to improve its operations such as the strengthening of concession management capacity, reinvigoration of post-transaction management capacity for effective performance and the deployment of best practices in reform optimisation of public enterprises.
In his remarks, the Vice President Kashim Shettima urged close collaboration among ministries, departments and agencies (MDAs) of government to actualise the agenda of President Bola Ahmed Tinubu across different sectors.
This is just as the National Council on Privatization (NCP) ratified the 2021 and 2022 audit financial reports of the BPE.
The Council also approved the progress made so far by the BPE in the implementation of its 2024 work plan aimed at strengthening its operations.
The Council’s approvals were among the decisions taken at the 3rd meeting of the NCP chaired by Vice President Shettima at the Presidential Villa, Abuja.
The Council also directed the BPE to further engage with the relevant parties in the resolution of the dispute in the sale of the Sapele II (Ogorode Generation Company Ltd) and the sale of coal blocks belonging to the Nigerian Coal Corporation.
In his remarks during the meeting, the Vice President commended the new management of the BPE for its diligence and renewed vision, urging stakeholders to support the realisation of the bureau’s set objectives.
He particularly commended the agency for its close supervision and conclusion of the Zungeru Hydroelectric Power Plant concession, as well as efforts to establish an Independent System Operator.
Senator Shettima further tasked the agency to work with the various committees of the NCP and the Ministry of Justice, and come up with a robust road map to expedite the completion of outstanding transactions, in the interest of the nation.
The Vice President noted that making important decisions in the power sector would be critical to tackling the perennial issues in the country’s energy industry.
Presenting a progress report on the 2024 work plan of the BPE, the Director General, Mr Ayodeji Gbeleyi, reported that the Bureau generated the sum of N93.47 billion in the first and second quarters of the year 2024 from three transactions, representing 35.9 percent of the expected revenues during the period under review.
Also present at the meeting were Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun; Minister of Agriculture and Food Security, Sen. Abubakar Kyari; Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Minister of Power, Mr Adebayo Adelabu; Solicitor General of the Federation & Permanent Secretary, Ministry of Justice, Mrs Beatrice Jedy-Agba; Permanent Secretary, Ministry of Communication, Engr Faruk Yabo, and the representative of the CBN Governor among others.
