Reps probe BPE over failed concessions, privatised companies

The House of Representatives on Wednesday initiated moves to probe the Bureau of Public Enterprise (BPE) over its activities in the last few years.

The scope of the probe is to cover all failed Concessions, terms of outright sales and/or agreement of Privatised and Partially Privatised Enterprises in the country.

Specifically, the House mandated its Committee on Privatisation and Commercialisation to investigate all failed Concessions, and the terms of outright sales and/or Agreements of Privatised Enterprises, with a view to determining why some of the agreements failed.

The committee is also to proffer solutions on how to avoid further failures and enhance the productivity and profitability of the affected Enterprises, and report back to House within eight weeks, for further legislative action.

The decision of the House was sequel to the passage of a motion sponsored by a member, Hon. Babatunde Gabriel Kolawole (Akoko South East/South West Federal Constituency, Ondo State), with the title: “Need to Investigate the Non!-Compliance with the terms of Agreements by Concessionaires and Privatised /Partially Privatised Government Companies,” on the floor of the House.

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The lawmaker, while moving the motion noted the uproar by individuals, staff and Unions of Privatised /Partially Privatised and conceded Government owned Enterprises owing to concerns on the non-conformity to the terms of sales and/or Agreements by the Concessionaires of the enterprises.

According to him, “the non-conformity to the terms of the Agreements have caused the country enormous losses in income, owing to the non-remittance of appropriate taxes and other financial commitments.”

Ossai Nicholas Ossai, while supporting the motion said that revenue is being denied the Federal Government by the non-adherence to the share purchase agreement.

“The motion is just seeking an investigation. It will unravel a lot of issues and give us details of these agreement as well as details of those that are not remitting to the federation account.”

Other members were of the opinion that though privatisation is good, the process has not been transparent and has not been done “with a human face.”

When the Speaker, Hon. Yakubu Dogara called for a voice vote on the motion, it was passed with overwhelming support by members.

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