Nigerian Government names national assets for sale, concessions (Full List)

*The Federal Government issues an investors’ guide to invite prospective investors to take advantage of the available opportunities and incentives for those buying into the state-owned businesses

*The Bureau of Public Enterprises’ investors’ guide discloses NIPOST, TBS, NIPPS, TCN, AICC, LTFC, BOA, others lead the pack of affected state-owned enterprises

Isola Moses | ConsumerConnect

In what the authorities have described as collective efforts at creating the enabling environment for the private sector to become the centre point for growth and economic prosperity, the Federal Government has identified dozens of state-owned businesses for sale, or concession with a view to resuscitating them in 2021 and beyond.

ConsumerConnect reports the Bureau of Public Enterprises (BPE) in the investors’ guide invites potential investors to exploit the opportunities available and incentives being offered by the Nigerian Government for those buying into the selected businesses.

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Mr. Alex Okoh, Director-General of Bureau of Public Enterprises (BPE), had received the report of the Federal Government’s four inter-agency committees on the resuscitation of the ailing and non-performing privatised enterprises.

What’s in BPE’s guide for potential investors?

Amina Othman, Head of Public Communications at BPE, in a statement said Mr. Okoh assured the stakeholders and Nigerians of BPE’s commitment to collaborating with relevant agencies to revive the moribund enterprises to become viable in the country.

The BPE investors’ guide noted: “In our collective efforts to create the enabling environment for the private sector to become the centre point for growth and economic prosperity, the Bureau has reformed and privatised over 234 public enterprises and carried out far-reaching reforms that have transformed the Telecommunications, Pension, the Ports Terminals, Debt Management and the Power Sector, among others.”

According to the Bureau, for the current year and beyond, it has over 36 transactions and projects, including new reform initiatives for the health, education, and oil & gas sectors in the national economy.

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The document also listed the various 2021 definitive projects under the purview of the Bureau of Public Enterprises (BPE) to include the Nigeria Integrated Power Projects (NIPPS); Calabar, Geregu, Omotosho and Benin (IHOVBOR); Transmission Company of Nigeria (TCN); Zungeru Hydro Plant; Nigerian Postal Service (NIPOST); Abuja Environmental Protection Board (AEPB) and the Nigeria Film Corporation (NFC).

Others are the Federal Capital Territory Water Board; Abuja International Conference Centre (AICC); Save sugar company; Lagos international trade fair complex (LTFC); Tafawa Balewa Square (TBS); River Basins Developments Authorities (RBDAS); Bank of Agriculture (BOA) and the Nigeria Commodity Exchange (NCX).

Investment incentives

The guide also stated as part of its investment incentives in agriculture and agro-allied, transport, aviation, manufacturing, solid minerals and power sectors, the government is offering zero percent import duty on equipment, aircraft, machinery and other related equipment.

The general requirement to access the tariff based incentives, include evidence of Corporate Affairs Commission (CAC) registration, tax compliance by means of Tax Identification Number (TIN) certification by relevant ministry, among others.

Recall the BPE March 23, 2021, had inaugurated the four committees to help resolve the complexities and challenges hindering the growth and development of some privatised enterprises in Nigeria.

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The teams were made up of members drawn from the relevant sectors, ministries, BPE and the private sector.

Okoh in a statement had disclosed that the government, through the National Council on Privatisation (NCP), had directed the BPE to investigate the causes of the poor performances of moribund enterprises.

The BPE Director-General said: “Also to proffer viable and acceptable solutions to resuscitating them to perform optimally, create employment, boost the economy and increase Gross Domestic Product (GDP) among other benefits.”

The findings of the committees, he had stated, would be shared among all stakeholders in order to spur them to meet their organisational objectives, and that of the Nigerian Government’s privatisation and reform programme.