{"id":425285,"date":"2011-05-17T00:00:00","date_gmt":"2011-05-17T00:00:00","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/17\/sambo-directs-bpe-to-ensure-effective-functioning-of-privatised-companies\/"},"modified":"2011-05-17T00:00:00","modified_gmt":"2011-05-17T00:00:00","slug":"sambo-directs-bpe-to-ensure-effective-functioning-of-privatised-companies","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/17\/sambo-directs-bpe-to-ensure-effective-functioning-of-privatised-companies\/","title":{"rendered":"Sambo directs BPE to ensure effective functioning of privatised companies"},"content":{"rendered":"
\n

THE Vice President, Alhaji Namadi Sambo has told\u00a0the Bureau of Public Enterprises (BPE) to ensure effective and efficient functioning of government companies privatised in the past six months.<\/p>\n

Sambo gave the charge in Abuja on Thursday at a meeting of the National Council on Privatisation (NCP).<\/p>\n

He frowned at a\u00a0situation where about 80 per cent of the privatised companies had become dysfunctional.<\/p>\n

He noted that the essence of privatisation was to ensure that the companies were working to\u00a0offer employment to\u00a0Nigerian youths.<\/p>\n

\u201cThe reason government is selling these companies is that they should have good management and should be viable to create jobs. The BPE should make sure all the companies sold in the last six months are working properly,\u201d he said.<\/p>\n

Addressing issues in the transport sector, Sambo decried the way and manner the nation\u2019s ports were being managed,\u00a0directing\u00a0the Minister of Transport to visit\u00a0ports with a view to addressing\u00a0challenges at the ports.<\/p>\n

The vice president approved the constitution of a committee to address\u00a0overlapping issues that might\u00a0exist between the Infrastructure Regulatory Commission (ICRC) and the BPE.<\/p>\n

The committee,\u00a0expected to make recommendations to the council, has its membership drawn from the Ministries of Finance, Justice, Environment, BPE, Infrastructure Concession and Regulatory Commission, CBN and a representative from the Legal Department of the Vice President\u2019s Office.<\/p>\n

The News Agency of Nigeria (NAN) reports that highlights of the council\u2019s meeting included the approval of the financial statement of the BPE for the year ended 2007 and 2008 as presented.<\/p>\n

It also granted approval in principle for the payment of\u00a0N2.7 billion negotiated ALSCON staff claims, subject to availability of funds.<\/p>\n

On the divestiture of the five per cent Federal Government\u2019s shareholding in Eleme Petrochemicals Company Ltd., the NCP requested that it should be furnished with further details to enable it arrive at a decision.<\/p>\n<\/div>\n<\/p>\n

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\nSambo directs BPE to ensure effective functioning of privatised companies<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

THE Vice President, Alhaji Namadi Sambo has told\u00a0the Bureau of Public Enterprises (BPE) to ensure effective and efficient functioning of government companies privatised in the past six months. 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