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   Market Date: 30-10-2014   
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World Bank backs out of privatisation programme - FG realised N1trn privatisation proceeds in 8 yrs

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World Bank backs out of privatisation programme - FG realised N1trn privatisation proceeds in 8 yrs

 

 

The World Bank has backed out of the country’s privatisation programmes, as the Privatisation Support Programme (PSP) ends in December.

 

Also, the Federal Government has realised one trillion naira from the privatisation of 132 enterprises between September 2001 and now.

 

Director-General of the Bureau of Public Enterprises (BPE), Dr Christopher Anyanwu, made this known on Wednesday in Abuja, at a two-day stakeholders’ workshop.

 

Dr Anyanwu said it was regrettable that the World Bank’s support for the privatisation programme in the country would soon come to an end.

 

However, he said the two-day workshop provided the BPE the opportunity to appreciate the country’s partnership with the World Bank in the last eight years that the support lasted.

 

He said the workshop was informed by the need to review project results against key performance indicators, access project outcomes against deliverables agreed to during project extensions, identifying gaps, constraints and challenges in subsequent project, among others.

 

On the BPE’s achievements in the eight years of World Bank’s support for Nigeria’s privatisation programme, the BPE boss said from the inception of PSP in September 2001, 132 public enterprises had been privatised, while a N1 trillion was generated as revenue in the process.

 

Noting that the BPE was not the only beneficiary of the World Bank‘s privatisation support projects in Nigeria, Dr Anyanwu said the bank’s collaboration with the BPE was the most viable of her privatisation support projects programmes in Nigeria.

 

 

(Source: Nigerian Tribune)



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