Friday, 27 June 2014

Federal Government to sell refineries soon.

Director General of Bureau for Public Enterprises (BPE), Mr. Benjamin Dikki,

The Director General of Bureau for Public Enterprises (BPE), Mr. Benjamin Dikki, Thursday announced that Nigeria’s four refineries will be up for sale, once the Petroleum Industry Bill (PIB) is passed into law.
Speaking when the Thailand Ambassador to Nigeria, Mr. Chailert Limsomboon paid him a courtesy call, Dikki affirmed that the PIB is currently before the National Assembly and would soon be passed into law.
“As soon as the bill is passed, the refineries will be privatised and the pipelines and depots concessioned,” he said.
He noted that the purpose of the review of the legal and regulatory frameworks was to aggregate the regulatory powers currently dispersed in various agencies in each sector into one sector regulator and separate policy from regulation.
The official also outlined the huge potentials in the transport sector, noting that Nigeria has over 193,000 kilometres of federal roads, which provide opportunities for potential road concessionaires.
According to him, 15 out of the 17 successor companies created out of the Power Holding Company of Nigeria (PHCN) are fully in the hands of the private sector while the remaining two are at the concluding stages for handover to the private sector, adding that the Transmission Company of Nigeria would continue to reside with the Federal Government.
Earlier, the Ambassador disclosed that his country has made economic cooperation with Nigeria the high point of its new Africa Initiative.

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