BPE projects over N493bn revenue from 36 projects in 2021

13 Jul BPE projects over N493bn revenue from 36 projects in 2021

The Bureau of Public Enterprise (BPE) has projected over N493 billion revenue from 36 projects it is undertaking in 2021.

The Director-General, BPE, Alex Okoh, who made the disclosure at a briefing in Abuja said the agency, whose objective among others was to generate revenue for the government, plans to realise the sum from projects spanned across five departments.

These, he listed to include: energy, industries and communication, development institution and natural resources, infrastructure and public-private partnership as well as the post transactions management department.

In a breakdown, he said of the 36 projects, is concentrated around sales of power assets which is expected to contribute N484billion revenue, “to the fiscal pool.”

Also, for the Post Transactions Management Department, he said 9 projects are equally targeted to generate over N363 billion revenue.

For Industries and Communication, Development Institution and Natural Resources, and Infrastructure and Public-Private Partnership, N9.2billion, N149million and N626million revenues are expected respectively.

On concessioning of the refineries, he said the idea has since been dropped following FG’s plans through the NNPC to rehabilitate them.

He said the agency is embarking on nine new projects part of which include the reformation of the Transmission Company of Nigeria (TCN), NIPPs, Zungeru hydropower concession, Geregu power, Abuja Waterboard, impact assessment study of privatised enterprises; fertilisers and sugar companies among others.

“We had ten projects for 2021, I said had because the sale of the refineries was originally part of the plan for 2021 but NNPC and the Ministry of Petroleum Resources were pursuing a different track for rehabilitating the refineries we had proposed for sale but this has been dropped,” he said.

On the Yola Disco, he said completion of its purchase, was finalised on Monday stressing that the DisCo was the only one, out of the 11 electricity Distribution Companies that was acquired by the government.

On the plans to concession Nigeria’s refineries, he said it has been dropped following Nigerian National Petroleum Corporation (NNPC’s) plans to rehabilitate them.

Yunana Malo, Director, Energy Department, of the BPE said at a media conference on Monday in Abuja, that the bureau would hand over the the Transmission Company of Nigeria (TCN) to a private manager on a concession arrangement to get maximum value instead of privatizing it.

He said transmission was the weak link in the power reform, as generation which was privatised had since attracted investments, making it more efficient.