FG to privatise railways, inland waterways, 6 others in 2015

The Federal Government has concluded plans to privatise eight new entities in some sectors of the economy by 2015.

These sectors include: Railway; Inland waterways; Road Authority; Roads Funds; National Transport Commission; Ports & Harbour reform; Federal Competition and Consumer Protection and Postal bill.

Director General of the bureau, Benjamin Dikki, disclosed this during the end year workshop of the Commerce and Industry Correspondence Association of Nigeria (CICAN) in Lagos, saying “Government is riding on the success story of the previously privatised public enterprises such as banking, power, telecom, marine, steel sectors of the economy, etc.

According to him, “Today, the banking and finance sector is the most developed sector in Nigeria, efficiently and effectively responsible for implementing all government’s economic and financial policies under the regulation of the Central Bank of Nigeria (CBN).

“The reform of the telecom sector remains the most successful in terms of its impact on the economy. For example, Nigeria’s tele-density has been raised from 450,000 telephone lines in 2001 to over 134.5 million as at September, 2014; today, telecom contributions to the GDP is now 8.53 per cent, compared to less than 3 percent in 2001.”

Still stressing on the benefits of the reforms and privatisation, he said “Eleme Petrochemical Company has been revitalised and producing at over 99 percent capacity and has been consistently paying over N4, 000.00 as dividend per share. Cement companies have been revived, expanded and made profitable, etc.”

Dikki stated that to sustain the gains of past reforms and privatisation and enhance the enabling environment for private capital participation in the Nigerian economy, BPE has prepared eight critical bills targeted for passage into law.

The bills are roads authority bill, railway bill, port and habour bill, inland water ways bills; Roads fund bill; National transport commission bill, federal competition and consumer protection bill as well as postal bill. 

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