Shettima Inaugurates Council On Privatisation

He stressed that the inauguration of the council was an invitation for its members to take a front seat in the effort to actualise the Renewed Hope Agenda.

Vice President Kashim Shettima / Photo credit: DailyTrust
Vice President Kashim Shettima / Photo credit: DailyTrust

Vice-President, Kashim Shettima, has urged the newly inaugurated members of the National Council on Privatisation (NCP) to work towards actualising the Renewed Hope Agenda of President Bola Tinubu’s administration.

Shettima stated this on Friday while inaugurating the newly constituted NCP at the Presidential Villa, Abuja.

The vice president also emphasised the need for the council members to champion great reforms through disruptive minds and ideas.

He noted that every great reform commences with a disruptive thinker, which he said President Tinubu symbolises.

Shettima, who is the Chairman of NCP explained that President Tinubu’s choice of the council’s membership was a reminder of what it could achieve with fresh ideas.

According to him, the membership of the council is as crucial as its mission.

He observed that the diverse talents and great depth of experience of persons approved as members of the council by Tinubu speak volumes of their ability to deliver.

Shettima said, “Membership in this distinguished council symbolises more than mere participation.

“It signifies a steadfast commitment and a resolute belief in our shared vision for a Nigeria brimming with opportunities, growth, and empowerment.

“It represents our collective pledge to propel the economy forward, build robust infrastructure, forge pathways to employment, and nurture an environment where productivity flourishes.

” By his approval, Mr President has entrusted us with the strategic national assignment of piloting the nation’s economic sector reform, privatisation, commercialisation, and Public-Private Partnership (PPP) programme for the next four years.”

He stressed that the inauguration of the council was an invitation for its members to take a front seat in the effort to actualise the Renewed Hope Agenda.

Shettima said, “Every great reform starts with a disruptive thinker, and President Bola Tinubu stands as a testament to this fact, reminding us of what we can achieve by infusing fresh ideas into this council.

“This gathering underscores our drive towards economic rejuvenation and liberalization by unlocking the immense potential of Nigeria’s economy, with reforms, PPPs, and privatization at the forefront.”

Shettima further reminded members of the council that their appointment was a privilege to serve the nation by contributing to the socio-economic development that the Tinubu administration promised to deliver.

The vice-president, therefore, urged them not to rest on their oars in ensuring accelerated growth of the economy.

He also enjoined members of the council to ensure the provision of infrastructure, jobs creation and provide an enabling environment for productive activities to flourish.

Shettima pointed out that their duty was to execute the statutory responsibilities of the council in line with the Public Enterprises (Privatisation and Commercialisation) Act 1999.

He listed the council’s objectives to include approving policies on privatisation and commercialisation and approving guidelines and criteria for the valuation of public enterprises and choice of strategic investors.

The vice-president added, ” Others are approving the prices for shares or assets of the public enterprises to be offered for privatisation, approving the legal and regulatory framework for the reform of public enterprises.

“And also reviewing, from time to time, the socio-economic effect of the privatisation and commercialisation programme and deciding on appropriate remedies.

“The council is also mandated to appoint committees comprising persons from the private and public sectors with requisite technical competence to advise on the privatisation and commercialisation of specific public enterprises.”

He said the Minister of Finance and Coordinating Minister of the Economy, Wale Edun is the Vice Chairman of the council and other members include Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN).

Others are the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Minister of Industries, Trade, and Investment, Dr Doris Anite; Secretary to Government of the Federation (SGF), George Akume, and Governor of Central Bank of Nigeria (CBN), Dr Olayemi Cardoso.

Others are Special Adviser to the President on Economic Affairs, Dr Tope Fasua; Mr. Oluwole Oshin (Private Member); Malam Mohammed Mustapha (Private Member) and Mr Olayiwola Yahaya (Private Member).

Similarly, Shettima named Mr Akwa Effion Okon (Private Member), and the Director-General, Bureau of Public Enterprises (BPE), Mr. Alex Okoh, as Secretary.

Responding, Edun thanked Shettima for inaugurating the council, saying,”a cursory look at the 2024 appropriation bill and budget estimate indicated that privatisation is among areas the government is relying on to fund the budget and grow the economy.

“But we do have the scope to go back to the National Assembly in the event that we find that we can actually do more.

“I would just like to thank the Chairman, National Council on Privatisation, His Excellency Kashim Shettima and to thank all of you as members in advance for the critical tasks that we have to carry out.

“And I will just end this brief vote of thanks, if I may, by reemphasising the strategy, the policy and, indeed, the objective of His Excellency, President Bola Tinubu.”

The Interview Editors

Written by The Interview Editors

The Interview is a niche publication, targeting leaders and aspiring leaders in business, politics, entertainment, sports, arts, the professions and others within society’s upper middle class and high-end segment in Nigeria.