Leadership (Abuja)
Justus Nduwugwe
24 September 2008
One of the key transactions soon to be undertaken by the Bureau of Public Enterprises (BPE), would be the privatisation of two oil-related government agencies, namely, the Petroleum Pipeline Marketing Company (PPMC), which will go through privatisation process from October 2008 to October 2009, and the Nigeria Gas Company (NGC), which would go through privatisation process from September 2008 to June 2009.
This was made known yesterday by the privatisation agency through a press statement issued by its Head of Public Communications, Mr. Chigbo Anichebe.
According to the statement, the Bureau of Public Enterprises (BPE), would undertake about 105 transactions between 2008 and beyond, according to the work plan of the agency approved at the 55th meeting of the National Council on Privatisation (NCP).
It further said that privatisation, commercialisation, reform, restructuring, diagnostic studies, public offers and hand over are among the various transactions and activities the Bureau will carry out from now to the end of next year, under the work plan endorsed on Monday by the NCP.
The statement also disclosed that the BPE would initiate and seal the process of selling the outstanding 15 per cent government equity in Eleme Petrochemical Company Limited (EPCL) to workers (2.5%), and host community (7.5%), from October 2008 and March 2009.
It also revealed that the ongoing privatisation of Nigeria Telecommunications (NITEL/MTEL) for which BNP Paribas has been appointed Transaction Advisers would be completed within the next three to four months.
Be the first to Write a Comment!
Copyright © 2008 Leadership. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
