NNPC Has Worked On Over 142 Public Enterprises Till Date – Yemi Osinbajo

Acting President, Prof. Yemi Osinbajo says the National Council on Privatisation (NCP) has successfully concluded the privatisation and reform of more than 142 public enterprises since its inception.

Osinbajo said this in a statement signed by the Head, Public Communications, Bureau of Public Enterprises (BPE), Mr Chukwumah Nwokoh in Abuja.

The acting President spoke at the inauguration of the Fifth Council of the NCP.

Osinbajo pointed out that the inauguration of the NCP was a critical step in the process of putting in place part of the institutional framework necessary for the actualisation of the socio-economic agenda of the administration.

“It is also a demonstration of our administration’s commitment to public sector reform and the central role of the NCP in this process.’’

He said the public sector had been at the centre stage in the provision of critical infrastructure and services cutting across the whole spectrum of the nation’s life since independence.

Osinbajo, however, said the emerging importance and centrality of the private sector to the actualisation of the economic agenda of the administration could not be downplayed.

He said that apart from playing a dominant role of generating employment opportunities, the intervention of the private sector enhances the process of industrialisation and delivers critical infrastructure and services in the country.

According to him, the role can only be unleashed when government’s role of regulating and creating an enabling environment is robustly undertaken.

“This will in turn offer the private sector the required comfort and assurance to make investments and expect a reasonable return thereon,” he said.

He pledged the administration’s commitment to giving the required support to the NCP to carry out its statutory responsibilities.

The acting President said that in return, the government expects the NCP to come up with creative, out-of-the box solutions for addressing challenges of privatisation and commercialisation.

The challenges are non-performance by some privatised enterprises and post-privatisation challenges facing some of the privatised enterprises.