Tuesday, February 7, 2023

Planned concession to put N5bn in government coffers annually: BPE

The planned concession would increase export earnings from the two special economic zones to about $3 billion over five to seven years.

• July 13, 2021
Alex-Okoh

The Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh, says the federal government will earn five billion naira annually from the planned concession of its two free trade zones, located in Calabar and Kano.

Mr Okoh said the planned concession would increase export earnings from the two special economic zones to about $3 billion over five to seven years.

He said the bureau had listed over 36 projects and transactions this year across diverse sectors of the economy, including the power sector.

Mr Okoh explained that these transactions and projects would see the sale and concession of power generation assets that would add about 3,300 megawatts to the national grid.

“The importance of power as an enabler for economic and industrial activities across all sectors of the economy continues to attract strong focus and attention of the federal government.

“In the health sector, the reforms being undertaken by the bureau will involve the implementation of initiatives which will radically transform health care delivery across Nigeria.

“This will improve availability, accessibility, affordability and quality of health care services with the ultimate objective of having a physically and an emotionally healthy population.

“The impact of this is to unlock significant resources for the government to invest in other critical infrastructure as well as other key sectors of the economy, creating job opportunities in the process,” he said.

He also reiterated the government’s readiness to improve its PPP engagement framework to generate the confidence required to attract private sector capital into the nation’s infrastructure space.

The webinar, which was organised by the BPE, in collaboration with the Nigerian Exchange Group and the Nigerian Investment Promotion Commission on Tuesday, aimed at highlighting the huge investment opportunities being offered by the government reforms and privatisation programme as captured in the bureau’s 2021 work plan.

Also speaking, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said Nigeria remained an economic hub in the African continent that is quite attractive, due to its population.

“It is, indeed, an investor’s delight despite our numerous challenges which the government is confronting.

Nigeria remains a premium investment destination for both local and foreign investors in the African continent.

“As we all know, there is a direct correlation between risk and reward. The higher the risk, the higher the associated reward.

The theme of the webinar was “Showcasing the investment opportunities in Nigeria’s privatisation and economic reform programme.”

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

World

Thousands protest over Denmark’s move to abolish Christian holiday

The Christian holiday that falls on the fourth Friday after Easter dates to 1686.

Lagos

UK ambassador lauds NRC legacy documentation

NRC is partnering Oxford University to document the corporation’s legacy.

World

Google launches Bard AI to rival ChatGPT

Google is coming out soon with its version of ChatGPT called Bard.


Bola Tinubu and Buhari in Jos

States

After Buhari, it’s Tinubu’s turn to be president: Akeredolu

According to Mr Akeredolu, Bola Tinubu has the pedigree to transform Nigeria.

Oil rig

Economy

NUPRC gazettes five oil industry regulations

The Nigerian Upstream Petroleum Regulatory Commission has gazetted five petroleum industry regulations.

President Muhammadu Buhari/Atiku Abubakar

Economy

Atiku tells Buhari not to make Nigerians scapegoats of poorly implemented naira policy

Atiku Abubakar said the new naira notes’ introduction was badly managed.