x

BPE targets over N270bn from transactions in 2020

Bureau of Public Enterprises (BPE) says plans are underway to generate N270.79 billion from its 20 transactions in 2020.

The Director-General, BPE, Mr Alex Okoh, disclosed this at a breakfast meeting with newsmen on Wednesday in Abuja.

Okoh explained that N3.94 billion would be spent out of the money in the cause of executing the transactions, while N266.85 billion which is the Net revenue would be transferred to Consolidated Revenue Fund.

He said that the 2020 revenue projections would be used to improve critical areas of public infrastructure such as health and education, among others.

He explained that the Bureau had six departments comprising: Energy, Development Institutions and Natural Resources, Infrastructure and Public-Private Partnership (I&PPP), Industries and Communication, Post Transaction Management and Finance and General Services Departments.

According to him, Energy Department will carry out nine transactions to generate N268.36 billion Development Institutions and Natural Resources five transactions to generate N440 million, while Post Transaction Management one to generate N1.99 billion.

“The intention of our activities for this year is basically to provide some improvement in the fiscal performance of the nation.

“You are all aware of this year’s budget which is N10.59 trillion and the challenge for us as a nation basically is on the revenue and not on the expenditure side.

“So, we have to be more creative in terms of various avenues that we should begin to explore as a government and as a nation to form the ever increasing demand for improvement in public infrastructure,” he said.

According to him, our population is growing in a very rapid rate, so, for the government to continue to access the requisite revenues to provide the basic infrastructure for this teeming population, we need to be more creative.

“We need to look outside the traditional sources of revenue and start looking at more creative idea of sources, including the residual and latent assets of government.

“And how we can convert those assets to some form of liquidity to fund the budget,” he said.

He said that the bureau through its activities for the year would reduce the federal budget deficit and also reduce government subvention at some of the entities it planned to privatise.

“It is not only to privatise these assets to raise revenues from the proceeds.

“But we are also looking at reducing the subvention and the budgetary allocation that otherwise government would have been provided for these enterprises.

“We want to take them off the fiscal balance sheet in a way that they would be self-sustaining in providing for their own budgetary needs.

“We are also looking at stimulating some growth in foreign direct investment; some of the assets that we are planning to privatise this year would be attracting some foreign direct investment.

“And we believe that it will be good for the country; it provides the needed foreign capital and also helps in improving our ways of doing business parameters,” he added.(NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Former Plateau Governor’s Aide Calls for Unity in PDP Amid Internal Rifts

By Israel Adamu, Jos A media consultant to former Plateau...

Kaduna Journalist Decries Threats to Life Over Report on Security Raids

By Achadu Gabriel, Kaduna Kaduna-based investigative journalist, Mr. Idibia U.A....

Sokoto State Flags Off Landmark Gas Cylinder Distribution Program

By Muhammad Ibrahim, Sokoto The Sokoto State Government, in collaboration...

Advancing China-Africa Relations: Second Post-FOCAC Forum Holds in Abuja

The Centre for Contemporary Africa-China Research in Nigeria on...

Kaduna: Security Operatives Raid Hotels, Arrest Dozens of Suspects

By Achadu Gabriel, Kaduna Security operatives, suspected to be members...

17 States Set to Celebrate Olympic Day Across Nigeria on June 28

As the June 28, 2025, Olympic Day approaches, 17...
spot_img

Related Articles

Popular Categories

spot_imgspot_img