FG Ratifies BPE’s 2021, 2022 Audited Financial Reports, Shettima Seeks Collaboration Among MDAs

The Vice President, Kashim Shettima, has urged close collaboration among ministries, departments and agencies (MDAs) of government to actualize the agenda of President Bola Tinubu across different sectors.

Shettima said this as the National Council on Privatization (NCP) chaired by him, on Wednesday, ratified the 2021 and 2022 audit financial reports of the Bureau of Public Enterprises (BPE).

The Council also approved the progress made so far by the BPE in the implementation of its 2024 work plan aimed at strengthening its operations.

The Council also directed the BPE to further engage with the relevant parties in the resolution of the dispute in the sale of the Sapele II (Ogorode Generation Company Ltd) and the sale of coal blocks belonging to the Nigerian Coal Corporation.

In his remarks during the meeting, the Vice President commended the new management of the BPE for its diligence and renewed vision, urging stakeholders to support the realization of the bureau’s set objectives.

According to his Senior Special Assistant on Media, Stanley Nkwocha, Shettima “commended the agency for its close supervision and conclusion of the Zungeru Hydroelectric Power Plant concession, as well as efforts to establish an Independent System Operator“.

He further tasked “the agency to work with the various committees of the NCP and the Ministry of Justice, and come up with a robust roadmap to expedite the completion of outstanding transactions, in the interest of the nation“.

The Vice President noted that making important decisions in the power sector would be critical to tackling the perennial issues in the country’s energy industry.

Presenting a progress report on the 2024 work plan of the BPE, the Director General, Mr. Ayodeji Gbeleyi, reported that the “Bureau generated the sum of N93.47 billion in the first and second quarters of the year 2024 from three transactions, representing 35.9% of the expected revenues during the period under review”.

Gbeleyi highlighted measures adopted by the agency to improve its operations such as the strengthening of concession management capacity, reinvigoration of post-transaction management capacity for effective performance and the deployment of best practices in reform optimization of public enterprises.