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 FG to privatise railways, inland waterways, 6 others in 2015.

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eddyvic
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PostSubject: FG to privatise railways, inland waterways, 6 others in 2015.   2014-12-18, 05:30

The Federal Government has
concluded plans to privatise eight
new entities in some sectors of the
economy by 2015.
Abuja light rail
These sectors include: Railway;
Inland waterways; Road Authority;
Roads Funds; National Transport
Commission; Ports & Harbour reform;
Federal Competition and Consumer
Protection and Postal bill.
Mr. Benjamin Dikki, the Director
General of the bureau, disclosed this
during the end year workshop of the
Commerce and Industry
Correspondence Association of
Nigeria (CICAN) in Lagos, saying
“Government is riding on the success
story of the previously privatised
Public Enterprises, PEs, such as
banking, power, telecom, marine,
steel sectors of the economy, etc.
According to him “Today, the
banking and finance sector is the
most developed sector in Nigeria,
efficiently and effectively
responsible for implementing all
government’s economic and
financial policies under the
regulation of the Central Bank of
Nigeria, CBN
‘The reform of the telecom sector
remains the most successful in terms
of its impact on the economy. For
example, Nigeria’s tele-density has
been raised from 450,000 telephone
lines in 2001 to over 134.5 million as
at September, 2014; today, telecom
contributions to the GDP is now 8.53
per cent , compared to less than 3
percent in 2001.”
Still stressing on the benefits of the
reforms and privatisation, he said
“Eleme Petrochemical Company has
been revitalised and producing at
over 99 percent capacity and has
been consistently paying over N4,
000.00 as dividend per share. Cement
companies have been revived,
expanded and made profitable, etc.”
Dikki, stated that to sustain the gains
of past reforms and privatisation and
enhance the enabling environment
for private capital participation in
the Nigerian economy, BPE has
prepared eight critical bills targeted
for passage into law.
The bills are roads authority bill,
railway bill, port and habour bill,
inland water ways bills; Roads fund
bill; National transport commission
bill, federal competition and
consumer protection bill as well as
postal bill.
Additionally, Dikki said that besides
these bills, the bureau is working
with the relevant ministries to
reform Sports, Tourism, Health and
Housing sectors of the country by
reviewing the policy, legal and
regulatory frameworks for these
sectors.
In her presentation, Dr. Gloria Elemo
Director General, Federal Institute of
Research Oshodi (FIIRO, said that
research and development are a
very potent benefit of research to
economic development is the
transformation substitution
industrialization to export oriented
industrialisation.
According to Elemo, it is on record
that whereas Research and
Development, R&D investments in
most European Union, EU and some
Asian countries lies between 1.5
percent and three percent of the
GDP, most developing countries
invest much less than one percent of
GDP in R&D accounting for a meager
0.11 percent of GDP. The R&D
investments in Nigeria only accounts
for 0.01 percent of global
expenditure on R&D. Consequently,
Nigeria ranked 94 out of 134 nations
in the global competitiveness index
in 2010 and has no university ranked
in the world’s top 500.
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PostSubject: Re: FG to privatise railways, inland waterways, 6 others in 2015.   2014-12-18, 08:28

Again!
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PostSubject: Re: FG to privatise railways, inland waterways, 6 others in 2015.   2014-12-18, 08:32

Yes o
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