BPE To Execute 42 Transactions In 2022

The National Council on Privatisation (NCP), chaired by the Vice President, Prof. Yemi Osinbajo, has approved the 2022 work plan for the Bureau of Public Enterprises (BPE) with 42 transactions slated for execution in the fiscal year.

The transactions are 11 in the energy Sector,10 in the industries and services sector, eight in the agriculture and natural services sector and 13 in the infrastructure and public private partnership (IPPP) sector.

A statement issued by BPE’s Head, Public Communications, Ibeh Uzoma Chidi at its maiden meeting for 2022 at the Presidential Villa, Abuja after its inauguration last week, the NCP also approved BPE’s 2022 revenue and expenditure, including the 2022 workplan risks and mitigation plans.

At the end of every year, the BPE carries out a post-mortem review of its activities and achievements via-a-vis the current year’s work plan and prepares a detailed work plan containing the deliverables as well as the cost and revenue estimates for the incoming year for consideration and approval by the NCP.

The work plan provides the framework for tracking the implementation and realisation of the approved projects contained therein.

The plan is a compendium of the various projects and reform initiatives which the BPE intends to carry out in 2022.

In another development, the Senate Committee on Public Accounts, chaired by Senator Mathew Urhohide has described as spurious allegations of financial impropriety against the BPE by the Office of the Auditor General for the Federation (OAuGF).

The Committee, which cleared the Bureau of the allegations when the Director General of the privatisation agency, Mr. Alex Okoh appeared before it, said the OAuGF did not reconcile its records before going public to accuse it of financial misdemeanour.

The OAuGF had accused the Bureau of some financial infractions; especially the non-remittance of revenue on ports concessions in the sum of $679,403,172.00.

On the Ports Concession payments, Okoh informed the Committee that the the BPE was only a party to the concession as all revenues generated from the exercise were paid directly to the landlord—Nigerian Ports Authority (NPA).

He sated that the BPE was never part of revenue collection during and after the concession, adding that the OAuGF arrived at the figures by merely looking at the contract documents and assuming the revenues were paid to the privatisation agency.

Okoh regretted that the allegations against the Bureau had smeared the reputation and integrity of the agency and demanded a retraction and apology from the OAuGF.

After listening to the presentation by Okoh, and the inadequate response from the OAuGF, the Committee exonerated the Bureau from all the allegations.

The committee, therefore, advised the OAuGF to always meet with relevant agencies for post-audit reconciliation before going public.