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Fed Govt: no plans to privatise TCN

Fed Govt: no plans to privatise TCN Oluwatomisin Amokeoja The Federal Government is not planning  to privatise the Transmission Company of Nigeria (TCN). The Bureau of Public Enterprises (BPE) Director of Energy, Mr. Yonana Malu made this known to reporters in Abuja yesterday. The plan, according to him, is for the government to retain its ownership and concession a segment of the transmission. He added that the plan is to reform the entity through concessioning to make it more efficient. TCN is for reform, he said, stressing: the “government is not thinking of privatising. It is thinking of ways and means that private capital can be brought to the transmission company without giving out the ownership of the transmission company.

FG to concession and sell 36 state-owned assets, earn N5 billion from FTZ concession

The Bureau of Public Enterprises disclosed that the Federal Government plans to concession 36 state-owned assets, citing that as much as N5 billion would be earned annually from the concession of Calabar and Kano Free Trade Zones. This was disclosed in a statement by the Director-General of the BPE, Mr Alex Okoh, in a webinar organised by the Nigerian Exchange Group and the Nigerian Investment Promotion Commission on Tuesday, according to the News Agency of Nigeria. The BPE boss stated that the planned concession would increase export earnings from the Calabar and Kano FTZ, to $3 billion over a period of five to seven years citing that it would also generate annual savings of about N5 billion into the federal treasury.

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