Bureau of Public Enterprises (BPE) Champions Private Sector Investment to Optimize Federal Assets
The Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh, has affirmed the bureau’s dedication to maximizing the value of Federal Government assets through private sector investments.
Speaking at a media event in Abuja, Okoh emphasized the importance of reducing reliance on borrowing and promoting private sector participation to fund the government’s fiscal plans.
Okoh highlighted the government’s commitment to a free-market and private sector-oriented approach, encouraging the private sector to play a more significant role in the economy.
He stressed the need to move away from inefficient management practices within the government and create opportunities for foreign direct investments.
“The President has been engaging the international investment community with the message that Nigeria is open for business. The signal we are sending is that we have opportunities for foreign direct investments within the sector,” said Okoh.
Asserting that borrowing alone cannot solve the economic challenges, Okoh outlined the bureau’s role in optimizing Federal Government assets.
He urged a shift in focus from borrowing to leveraging the assets, emphasizing that borrowing only deepens the financial challenges.
In addressing the current state of Nigeria’s infrastructure, Okoh revealed that the country’s infrastructure stock to GDP was around 35 percent, lower than other African nations such as Ghana (45 percent), South Africa (70 percent), and Egypt (68 percent).
He urged a strategic increase in infrastructure stock to stimulate economic growth and prosperity for citizens.
Okoh called on the media to contribute to framing the narrative of economic liberalization and opening the economy for private sector participation.
He emphasized that the bureau carefully evaluates each privatization decision, bringing efficiency to asset management through privatization, commercialization, and concessioning.
“The best business of the government is to provide an enabling environment for businesses to thrive,” Okoh concluded.
Source: Daily Trust
