NCP Ratifies BPE’s 2021, 2022 Audited Financial Reports
* Bureau generates N93.47bn in first two quarters of 2024
Deji Elumoye in Abuja
The National Council on Privatization (NCP) on Wednesday ratified the 2021 and 2022 audit financial reports of the Bureau of Public Enterprises (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 third meeting of the NCP presided over by Vice-President Kashim Shettima at the State House, 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.
Speaking during the meeting, the vice-president commended the new management of the BPE for its diligence and renewed vision, urging stakeholders to support the realization 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.
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% of the expected revenues during the period under review.
He 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 optimization of public enterprises.
Also present at the meeting were the Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun; Minister of Agriculture and Food Security, Senator Abubakar Kyari; Minister of Budget and Economic Planning, Senator 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, Faruk Yabo, and the representative of the CBN Governor, among others.
