PUBLIC ENTERPRISES PRIVATISATION AND COMMERCIALISATION ORDER 2004

What Is This Policy?

This Order lists the specific public enterprises scheduled for privatisation or commercialisation under the Public Enterprises Act and sets the process by which the Bureau of Public Enterprises implements these transactions.

Who Does It Target?

Public enterprises listed in the schedule to the Order Private investors and strategic buyers bidding for privatised enterprises Workers and unions of affected public enterprises

What Does It Aim to Achieve?

To transfer ownership or management of designated federal public enterprises to private sector operators, improve enterprise efficiency, reduce fiscal burden on the government, and attract private capital investment.

Key Features

Scheduled Enterprises: Lists the specific public enterprises approved for full privatisation, partial privatisation, or commercialisation BPE Authority: Designates the Bureau of Public Enterprises as the implementing agency for all privatisation and commercialisation transactions Transaction Process: Sets out the competitive bidding, valuation, and transaction completion procedures for each enterprise Worker Protections: Includes provisions requiring transitional worker protection arrangements in privatisation transactions Revenue Allocation: Prescribes how proceeds from privatisation transactions are to be accounted for and applied

Current Status

Rollout Stage: Ongoing; multiple transactions completed, others at various stages of implementation Coverage: Applicable to all federal government enterprises listed in the Order Funding: Not applicable; transactions generate proceeds for government

How to Access

Private investors may participate in privatisation transactions by responding to Bureau of Public Enterprises expressions of interest or request for proposals. Registration as a bidder with the Bureau of Public Enterprises for the relevant transaction Submission of the prescribed financial and technical pre-qualification documentation Compliance with the transaction-specific requirements set out in the bid documents Application method: Bureau of Public Enterprises, Abuja; transaction notices published in national newspapers and on the BPE website

Official Resources

Website: www.bpe.gov.ng

Legal Framework

Issued under the Public Enterprises (Privatisation and Commercialisation) Act 1999, which empowers the President to designate enterprises for privatisation. Operates alongside the Bureau of Public Enterprises Act, the Investment and Securities Act 2007, the Companies and Allied Matters Act 2020, and the Ministry of Finance Incorporated Act.