In a bid to fortify government institutions and maximize the potential of state assets, Vice President Kashim Shettima has issued a compelling directive to the National Council on Privatisation (NCP). The call for regular meetings and decisive actions to uplift the fortunes of governmental entities.
The Vice President’s directive, delivered during the reconstituted National Council on Privatization meeting which he chaired, underscores a vision for revitalizing and optimizing the functionality of government institutions. It reflects a keen awareness of the pivotal role government institutions play in driving economic growth and development.
By urging the NCP to convene regularly and make decisions promptly, Shettima is setting the stage for a more dynamic, responsive and forward-thinking approach to managing public assets.
Efficiency in decision-making is crucial, especially when considering reforms, sales, or concessions. Swift actions can streamline processes, eliminate inefficiencies and unlock the latent potential of governmental assets. This approach not only ensures the optimal utilisation of resources but also contributes significantly to generating income and employment opportunities for the Nigerian populace.
The Minister of Budget and Economic Planning and a member of the NCP, Mr Abubakar Atiku Bagudu, conveyed the Vice President’s mandate.
“The Vice President gave the mandate that the Council must meet as regularly as possible so that where we need to reform institutions, we do so with despatch; where we need to sell or concession them, or even arrange them in a way that will bring more value to Nigerians, that will also be done with despatch,” the minister said.
The minister highlighted the strategic importance of these decisions, emphasizing that they are geared towards fostering positive transformation within the public enterprise sector.
The emphasis on expeditious decision-making aligns to ensure that governmental assets are utilized efficiently, generating income, and employment, and, ultimately, enhancing national prosperity.
The National Council on Privatisation, in response to the Vice President’s directive, is poised to play a pivotal role in making the Nigerian public enterprise sector more efficient. The council, during its recent meeting, took significant steps by approving four Standing Committees and endorsing the 2024 work plan for the Bureau for Public Enterprises (BPE).
The Standing Committees will be instrumental in spearheading necessary reforms, sales, or concessions, ensuring that these processes are conducted swiftly and with a focus on delivering maximum value to Nigerians.
The approval of four Standing Committees by the NCP signifies a structured and focused approach to addressing challenges and opportunities within the public enterprise sector.
The endorsement of the 2024 work plan for the Bureau for Public Enterprises is a crucial step in providing a roadmap for the effective execution of privatization strategies. This comprehensive plan is expected to outline key milestones, timelines and deliverables, ensuring that the NCP’s efforts align with the broader objectives of economic growth, wealth creation and national development.
The overarching goal of the Vice President’s directive and the subsequent actions of the NCP is to contribute to building a more resilient and prosperous nation.
By fortifying government institutions and optimising the use of assets, Nigeria can unlock new avenues for economic growth, attract investments, and create a conducive environment for businesses to thrive.
