BPE Introduces Risk Management Strategy to Mitigate Transaction Risks

0

Ndubuisi Francis in Abuja

Bureau of Public Enterprises (BPE) has introduced risk management strategy in all transactions in order to mitigate risks, and improve on its mandate, even as the House of Representatives expressed the need to amend the Public Enterprises Privatisation and Commercialisation Act to reflect current realities.

The bureau has also explained that it was shifting focus and strategy to reforms, and other public private partnership initiatives to address the infrastructural deficit in the country.

BPE Director General, Mr. Alex. Okoh, who made the disclosures while receiving members of the House of Representatives Committee on Privatisation led by its Chairman, Mr. Victor Kolade Akinjo, said the current initiatives by the bureau were aimed at impacting the Nigerian economy positively in the areas of infrastructural development, employment creation and human capital development.

Okoh told the lawmakers, who were on an oversight visit to the bureau that the opportunities, particularly in the infrastructure space, are limitless and needed political leadership for its success.

The director general, in a statement by BPE Head, Public Communications, Amina Tukur Othman, said the bureau was shifting focus and strategy to reforms, and other public private partnership initiatives to address the infrastructural deficit in the country.

The statement said over the years, BPE had carried out reforms in the telecoms sector which had improved teledensity, pension and port reforms.

On the ports reforms, he said the bureau had succeeded in providing over 25,000 additional jobs to Nigerians, adding that to mitigate risks in its transactions in 2020 BPE has introduced risk management strategy in all transactions as part of efforts to improve on its mandate.

Responding, Akinjo expressed satisfaction with the reforms the bureau had carried out over the years and pledged to support it for the growth and economic development of the nation.

He said the purpose of the oversight visit was to interface with the bureau and sensitise the committee members on the reform and privatisation process carried out by the BPE; even as he expressed the need to amend the Public Enterprises Privatisation and Commercialisation Act to reflect current realities.