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.
By Chijioke Jannah
