The federal government through
the National Council on Privatisation (NCP) has unveiled plans to improve electricity
nationwide.
According to Nigeria’s Vice
President and Chairman of NCP, Yemi Osinbajo, the Council approved the
commencement of the privatization of Afam Power plants 1-5 to inject additional
power into the national grid.
Osinbajo, in a statement by Laolu
Akande, his Senior Special Assistant on Media & Publicity, also disclosed
that the NCP also approved the pursuit of an out-of-court settlement involving
the privatisation of Aluminium Smelter Company of Nigeria (ALSCON).
The move aims to resolve the
lingering dispute between the Federal Government, BFIG and United Company RUSAL
through the mediation of the Secretariat with the active collaboration of the
Federal Ministry of Mines and Steel Development.
The council advised that “the
mediation efforts should take a holistic view of the entire sector and the
overriding national interests to jumpstart industrial development through the
steel sector in arriving at a resolution on the matter.”
The statement added: “At the
meeting, the council reviewed the proposals presented by its Secretariat, the
Bureau of Public Enterprises (BPE) for the reform and restructuring of various
sectors of the economy.
“Furthermore, the council
approved the immediate revocation of the concession of the Lagos International
Trade Fair Complex, and the immediate commencement of a fresh privatisation of
Yola Electricity Distribution Company.
“These approvals, the council
noted, were aimed at giving traction to key infrastructure facilities in the
country that are presently under concessions, but have been adjudged to be
performing sub-optimally.
“These decisions were taken
during the meeting of the NCP, which is the highest decision making body on
policies relating to the privatisation and commercialisation policies of the
Federal Government, on August 22 and 23, 2017 at the Presidential Villa, Abuja.
“Other key decisions taken by the
council include the approval of the amendments to the Work Plan for the
conclusion of the transaction involving the concessioning of Terminal “B” Warri
Old Port; the restructuring and recapitalisation of Bank of Agriculture.
“The restructuring of the BOA is
in alignment with the Government’s desire to make financing options readily
available to farmers for an aggressive diversification of the Nigerian
economy,” the council stated.”
It further stated that it
approved the immediate commencement of the reform and commercialisation of the
River Basins Development Authorities to revitalise the irrigation and river
basin potentials for agricultural purposes.
Similarly, to harness the
nation’s untapped tourism potential, the council approved the partial
commercialisation of the National Parks using three key national parks as pilot
projects.
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