Uche Usim (Abuja) and Adewale Sanyaolu

The Bureau of Public Enterprises (BPE) has recorded a  2019 revenue target shortfall of N85 billion, representing a 39 per cent decrease.

Speaking at an interactive forum with the Senate Committee on Privatisation at the National Assembly recently, the Director General of BPE, Mr.Alex Okoh,  said the Bureau was expected to contribute N220bn in line with the Medium-Term Framework submitted by the Federal Government to the National Assembly for 2019 budget but was only  able to generate N135 billion so far.

He said the N135 billion was generated through the sale of the Afam Electricity Generation Company (Afam Power Plc and Afam Three Fast Power Limited),re-privatisation of the Yola Electricity Distribution Company (YEDC) and sale of 29 percent Federal Government’s  shares in the Geregu Power plant.

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Okoh while calling on the National Assembly to critically look at the funding framework of the Bureau, expressed optimism that BPE would meet its target for the 2020 fiscal budget.

He regretted that out of the N2bn allocated to the Bureau yearly from the national purse for its operations, N1.5bn is for staff emoluments through the Integrated Pay role and Personnel Information System (IPPIS).

“Of the N500 million that is supposed to come to the Bureau for overheads and capital expenditure, only about 15 per cent of the amount is eventually released to the Bureau against what is obtained in other revenue generating agencies of the Federal Government.”

The Director General advised the Federal Government to give consideration to the privatisation of Federal Government-owned enterprises to fund the N10.33 trillion 2020 budget, with a total deficit of N2.28 trillion and decried a situation where the state-owned enterprises place an undue pressure on the lean public purse by way of subventions.