Nigeria: Eleme's Threatened Success

17 November 2008
editorial

The Eleme Petrochemicals Company Limited, EPCL, is one of the few exceptions to the gloomy stories of privatised public companies.

Two years after Indorama won the bid for then ailing company it has changed things.Honourable Njidda Ahmed Gella, Chairman, House of Representatives Committee on Privatisation said Indorama was the only core investor that had adhered to the spirit and objectives of the privatisation exercise following EPCL's payment of dividends of N2.9 billion to the Nigerian National Petroleum Corporation, NNPC and N1.9 billion to the Bureau of Public Enterprises, BPE.

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