The Bureau of Public Enterprises (BPE) on Wednesday said it intends to raise N266.8 billion as net revenue from the sale and commercialisation of federal government assets to support the funding of the 2020 budget.
Director General of the BPE, Mr. Alex Okoh disclosed this in Abuja while unveiling the Bureau’s 2020 Work Plan, Revenue and Expenditure Projections.
He said the total gross revenue expected from the assets sales is N270.7bn out of which N3.9bn will be incurred during the process, leaving a net revenue of N268.8bn.
According to him, about 20 transactions are planned for the year 2020 from which the N268.8bn will be raised.
The DG said the N266.8bn that is projected to be raised will be used to fund the deficit in the 2020 national budget.
Some of the transactions carried into the 2020 that have been concluded according him, are the privatisation of the Yola Disco (N105bn) and Afam Power Limited (N19bn) making a total of N124bn that will accrue to the federal government within the first quarter of the year.
Other transactions planned for 2020 include the Nigeria Integrated Power Project (NIPP), and sale of additional shares of Geregu to Amperion Power.
Others are Partial Privatisation of Calabar and Kano Free Trade Zone, Bank of Agriculture, Lagos International Trade Fare Complex and Tafawa Balewa Square among numerous others.
He said the new transactions expected to be carried out this year include A.C.M of Nigeria Limited, Non-operational Power Plants, Nigerian Film Corporation and development of infrastructural facilities at the tertiary educational institutions
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
