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BPE GENERATES N1TRILLION FROM DIFFERENT SECTORS OF THE ECONOMY

 

The Bureau of Public Enterprise, BPE announced that it has generated N1trillion from different sectors of the economy so far, while targeting N439billion in 2021.

The Director General of BPE, Dr. Alex Okoh made this known during his presentation at a breakfast meeting with journalists in Abuja.

Dr Okoh stated that BPE has concluded 234 total transaction from sectors such as: Agriculture, Banking and Insurance , Cement, Energy Construction and Services, Hotels and Tourism , Industry and Manufacturing, Oil and Gas, Power, Mines and Steel, Telecom , Automobile among many others.

The BPE boss explained that the Bureau is targeting N484 billion from the Energy sector, N9bilion from Industries and Communication Department, N212million from Post Transaction Management Department, N626million from Infrastructure and Public Private Partnership and N148million from Development Institutions and Natural Resources.

Responding to questions from journalists on the ongoing reform intiatives, Dr Okoh says the bureau has set to unbundle Nigerian Postal Service, NIPOST so that it can operate and compete with Global services

He added that NIPOST would be unbundled into three commercial services such as NIPOST Transaction and Logistics Company, NIPOST Properties and Development Company, and NIPOST Microfinance Bank.

He said the Unbundling will create subsidiaries property development , transport and logistics and Microfinance to generate revenue and optimise value.

He added that the Bureau is working on Transmission Company, NIPP , Abuja International Conference Centre, Abuja Water Board, Zungeru Hydro Power Concession, and many others.

“The Country’s Fiscal space is getting increasingly constrained, as a result , government cannot provide the resources required to meet all of its obligation and bridge huge infrastructure gap, the most feasible option is to attract private sector investment” he said.

The entreprise is set to attract private sector investments to bridge the huge infrastructural gap that is increasingly constrained.

BPE’s current initiative in the year 2021 work plan is poised to impact the economy positively in the areas of infrastructure, health care service delivery food security and human capital development.

PS

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