Business
BPE To Raise N267bn From Privatisation Of 20 Firms
The Director-General of the Bureau of Public Enterprises, (BPE) Mr. Alex Okoh,says the bureau is posied to raise N266.9 billion from privatization of 20 companies in order to fund the 2020 federal government budget. has advised against re-nationalisation of the nation’s electricity power assets.
He spoke at a breakfast meeting where he presented the bureau’s 2020 Work Plan, Revenue and Expenditure Projections to the media in Abuja, last Saturday.
Responding to concerns over the fate of the privatised power companies, as the National Economic Council, NEC, committee on the review of the sector’s privatization commenced work, Okoh stated: “What I will not advocate, as an individual, is the re-nationalisation of the power sector. I think it will be a fundamental error to go in that direction.”
He added, “The problem, as far as I am concerned, is not the privatization of the DisCos (Electricity Distribution Companies) or the entire value chain. The problem essentially is in the design of the reform of the power sector for privatization. Recapitalising the DisCos, will it solve the problem? Maybe, maybe not. He said that the electricity sector had to be taken more seriously, as according to him, Nigeria, the largest economy in Africa has a mere Electricity per capita of about 150 KWh, compared to South Africa, the continent’s second largest economy,with a record of Electricity per Capita of 4,437 KWh.
He said: “We have not started to even scratch the issue of resolving the problem of power in Nigeria and if we don’t resolve the problem of power, then we are not going anywhere in terms of economic growth in the country. I think we have to be more concerted on resolving the power issue.”
Okoh said that the major problem with the sector was the transmission and distribution, as there was excess capacity in the generation segment of the industry.
He projected that the bureau would raise N266.9 billion from the privatization of 20 companies in order to fund the 2020 federal government budget. The sum of N3.9 billion is expected to be spent on the privatization exercise this year.
He projected a revenue of N268 billion from nine power enterprises including the Yola Electricity Distribution Company; Afam Power Plant; and the Nigeria Integrated Power Plants (NIPPs).
The BPE boss said Post Transaction management unit of the bureau is expected to yield the sum of N1. 987 billion; while Infrastructure and Public Private Partnership sector would be expected to generate N626. 2 million.
According to him, the Development Institutions and Natural Resources sector would yield N440 million; while another N220. 136 million would come from the Industries and Communications sector.
Nkpemenyie Mcdominic
Reports say that the training is designed to equip youths with practical technical skills for employment in the oil and gas and construction sectors, with emphasis on employability, safety, competence and self reliance.
In attendance at the flag-off ceremony this week, at the Petroleum Training Institute (PTI) Conference Hall, Effurun, were stakeholders, dignitaries, and political representatives, among others.
Dafinone, represented by his Chief of Staff, Adelabu Bodjor, said the initiative reflects a deliberate political investment in human capital development across Delta Central.
He explained that the training focuses on rigging and scaffolding, noting that “both are essential technical competencies required in industrial operations, construction projects, and oil and gas installations”.
Bodjor added, “The programme is intended to reduce dependency among youths by providing job-ready skills capable of supporting long-term economic opportunities and self-sufficiency. The initiative aligns with Senator Dafinone’s broader development agenda, which prioritises practical skill acquisition as a pathway to sustainable empowerment.”
Also addressing the participants, the NCDMB, Felix Omatsola Ogbe, represented by Mr. Teddy Bai, commended Dafinone for sponsoring the programme, describing it as “a timely response to critical manpower gaps in the industry”.
Bai explained that rigging and scaffolding remain safety-sensitive skills required across fabrication yards, offshore platforms, and construction sites, stressing that the programme bridges the gap between certification and practical competence.
He also charged the training consultant, OROH Contractors Limited, to maintain strict standards of professionalism, safety, and discipline, while urging participants to remain committed, focused, and disciplined throughout the exercise.
The Senate Liaison Officer for Sapele Local Government Area, Chief Patrick Akamuvba, , described the programme as a major step in strengthening human capital development in Delta Central.
Akamuvba said scaffolding and rigging skills are in high demand across residential, commercial, and industrial construction projects, noting that the training offers real employment opportunities for beneficiaries
He urged participants to prioritise knowledge and certification over short-term material expectations, stressing that discipline and seriousness would determine their long-term success.
He also cautioned youths against social vices and distractions, advising them to remain focused to maximise the opportunities provided by the programme.