{"id":35349,"date":"2019-10-17T13:11:11","date_gmt":"2019-10-17T12:11:11","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=35349"},"modified":"2019-10-17T13:11:11","modified_gmt":"2019-10-17T12:11:11","slug":"n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/","title":{"rendered":"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets"},"content":{"rendered":"

\u2022 Says State enterprises gulp $3billion annually without returns<\/h2>\n

The\u00a0Bureau of Public Enterprises<\/a>\u00a0has advised the Federal government to give consideration to the privatisation of federal government-owned Enterprises to fund the N10.33trillion 2020 budget, with a total deficit of N2.28trillion.<\/p>\n

The Director-General of the Bureau of Public Enterprises ( BPE), Alex Okoh gave the suggestion on Wednesday at a meeting with Senate Committee on Privatisation led by former Abia state governor, Theodore Orji.<\/p>\n

Okoh decried a situation where the state-owned Enterprises take about $3bn from scarce public funds with meagre returns.<\/p>\n

\n
\n

He noted that there was no justification for the ritual of yearly budget deficit with local and external borrowings when there were national assets that could be converted into liquid-asset for that purpose.<\/p>\n

He said: \u201cIt is not good to keep borrowing on a yearly basis to finance deficit budget when a lot of very valuable national assets are lying fallow and moribund.<\/p>\n

\u201cProceeds from outright privatization or concession of the moribund assets, should serve as the best alternative in funding yearly budget deficits since the assets are more or less, becoming national liabilities.\u201d<\/p>\n

While insisting that the nation has earned tremendous benefits from the privatisation of public assets, he specifically mentioned the National Theatre in Iganmu Lagos and the National Stadium in Surulere as part of the national assets that should have been given out to private investors.<\/p>\n

\n
\n
\n

He said:\u201d In the telecommunication sector alone, while Nigeria had 500,000 landlines and telephone subscribers in pre-year 2000, the subscribers base as at 2019 has grown to 150million.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cFirst Bank today is not the same it was while under government control. While not one single unprivatized state-owned enterprise is performing, many of the privatized ones are performing by providing the required liquidity in the Nation\u2019s economy.\u201d<\/p>\n

He, however, expressed reservation over the privatisation of the power sector as he admitted that the process was flawed.<\/p>\n

\u201d We have huge problems concerning the privatization of the power sector as a result of policy misalignment in the sector.<\/p>\n

\u201cAnalogically, the problem with the sector is like after surgery mismanagement which is, however, is critically addressed.<\/p>\n

\u201cAs at today, installed capacity for power generation is 13, 500 megawatts from 2,600 megawatts it was in 2013 before the sector was privatised \u201c.<\/p>\n

He assured the Committee members that the N320billion expected as revenue from the agency to fund the 2020 budget will be realised by the second quarter of next year from proceeds to be made from some national assets slated for privatization.<\/p>\n

In his remarks, Chairman of the Committee, Senator Theodore Orji ( PDP Abia Central), asked Okoh directed to furnish the committee with records of the agency 2019 budget performance ahead of consideration of the 2020 budgetary estimates for the agency by the committee.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/p>","protected":false},"excerpt":{"rendered":"

The\u00a0Bureau of Public Enterprises\u00a0has advised the Federal government to give consideration to the privatisation of federal government-owned Enterprises to fund the N10.33trillion 2020 budget, with a total deficit of N2.28trillion.<\/p>\n","protected":false},"author":6,"featured_media":35350,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[4843,1867],"coauthors":[2391],"class_list":["post-35349","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-alex-okoh","tag-bpe"],"yoast_head":"\nN2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets - National Wire\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Bureau of Public Enterprises\u00a0has advised the Federal government to give consideration to the privatisation of federal government-owned Enterprises to fund the N10.33trillion 2020 budget, with a total deficit of N2.28trillion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-17T12:11:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/10\/Alex-Okoh-1062x598-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"450\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/10\/Alex-Okoh-1062x598-2.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/10\/Alex-Okoh-1062x598-2.jpg\",\"width\":450,\"height\":350},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/\",\"name\":\"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#primaryimage\"},\"datePublished\":\"2019-10-17T12:11:11+00:00\",\"dateModified\":\"2019-10-17T12:11:11+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/","og_locale":"en_US","og_type":"article","og_title":"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets - National Wire","og_description":"The\u00a0Bureau of Public Enterprises\u00a0has advised the Federal government to give consideration to the privatisation of federal government-owned Enterprises to fund the N10.33trillion 2020 budget, with a total deficit of N2.28trillion.","og_url":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/","og_site_name":"National Wire","article_published_time":"2019-10-17T12:11:11+00:00","og_image":[{"width":450,"height":350,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/10\/Alex-Okoh-1062x598-2.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/10\/Alex-Okoh-1062x598-2.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2019\/10\/Alex-Okoh-1062x598-2.jpg","width":450,"height":350},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/","name":"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#primaryimage"},"datePublished":"2019-10-17T12:11:11+00:00","dateModified":"2019-10-17T12:11:11+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/n2-28trillion-deficit-bpe-advocates-privatisation-of-fg-assets\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"N2.28trillion Deficit: BPE Advocates Privatisation Of FG Assets"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/35349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=35349"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/35349\/revisions"}],"predecessor-version":[{"id":35351,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/35349\/revisions\/35351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/35350"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=35349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=35349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=35349"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=35349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}