The federal government has set plans in motion for the revival of some non-performing enterprises under public-private partnerships.
The enterprises comprise those in automobiles, housing (bricks and clay), mines and steel as well as oil palm sectors.
Head, public communications, Bureau Public Enterprises (BPE), Ibeh Chidi, said in a statement that four committees had been inaugurated to revive the ailing companies.
The four committees are to review and implement a strategic roadmap for the resuscitation of ailing enterprises in the country, examine the challenges in the sectors and develop a comprehensive five-year (2023–2027) turnaround programme for each of the non-performing enterprises.
Speaking at the inauguration, Alex Okoh, director-general, BPE, said the initiative aligned with the ease of doing business and the federal government’s Economic Recovery and Growth Plan (ERGP).
Okoh was represented by Ignatius Ayewoh, BPE director of agriculture and natural resources.
He said the BPE discovered that about 16 percent of the privatised companies were non-performing and the result of the finding was submitted to the National Council on Privatisation (NCP) in 2018 and to the senate committee on privatisation in 2020.
