FG To Privatize Railways, Inland Waterways, Others in 2015

The Federal Government has announced plans to privatize eight sectors of the economy by 2015.

The sectors to be privatized include the railway, road authority, inland waterways, Ports & harbor, national transport commission, federal competition, consumer protection and postal bill.

Benjamin Dikki, the Director General of the Bureau of Public Enterprises, BPE, disclosed this during the end of year workshop of the Commerce and Industry Correspondents Association of Nigeria, CICAN, in Lagos.

“Government is riding on the success story of the previously privatized Public Enterprises, PEs, such as banking, power, telecom, marine, steel sectors of the economy, etc.

“Today, the banking and finance sector is the most developed sector in Nigeria, efficiently and effectively responsible for implementing all government’s economic and financial policies under the regulation of the Central Bank of Nigeria, CBN.

“The reform of the telecom sector remains the most successful in terms of its impact on the economy. For example, Nigeria’s tele density has been raised from 450,000 telephone lines in 2001 to over 134.5 million as at September, 2014. Today, telecom contribution to the GDP is now 8.53 per cent, compared to less than 3 percent in 2001,” Dikki said.

He also stated that to sustain the gains of past reforms and privatization and enhance the enabling environment for private capital participation in the Nigerian economy, BPE has prepared eight critical bills targeted for passage into law.

The bills are roads authority bill, railway bill, port and harbor bill, inland waterways bills; roads fund bill; national transport commission bill, federal competition and consumer protection bill as well as postal bill.

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