The Federal Government has approved the privatization of the Federal Housing Authority (FHA).
This was the outcome of Thursday meeting of the National Council on Privatization (NC...P) chaired by Vice President Mohammed Namadi Sambo and held at the Presidential Villa in Abuja.
This was the outcome of Thursday meeting of the National Council on Privatization (NC...P) chaired by Vice President Mohammed Namadi Sambo and held at the Presidential Villa in Abuja.
Briefing State House correspondents after the meeting, Transport Minister Senator Idris Umar, alongside the Minister of State for Finance Lawal Yerima Ngama and the Acting Director of the Bureau of Public Enterprises (BPE), Benjamin Dikki, said the NCP endorsed the commercialization of the FHA to address the huge housing deficit.
He said a steering committee to be headed by the Minister of Housing and Urban Development, Ms Ama Pepple, has been constituted to work out the modalities for the privatisation.
He said a steering committee to be headed by the Minister of Housing and Urban Development, Ms Ama Pepple, has been constituted to work out the modalities for the privatisation.
The council, according to Umar, also approved the commencement of the privatization process of the Abuja Securities and Commodities Exchange (ASCE) to provide stable prices and ensure efficiency in the marketing of agricultural produce both locally and internationally.
According to him, this will guarantee employment for millions of Nigerians and provide raw materials for industrial production.
He said a steering committee to be headed by the Minister of Trade and Investment has also been set up to work out the modalities for the commencement of the privatization soon.
He said the council also approved the relocation of associated maritime services from Terminal B, Old Warri Port to Terminal A, New Warri Port originally concessioned to the company AMX.
Umar, who noted that the terminal B has some structural defects, said “it is currently undergoing total rehabilitation.”
He said the council also considered the draft electric power sector amendment bill seeking penalties for the theft of electricity lines and materials.
Weekly Trust
According to him, this will guarantee employment for millions of Nigerians and provide raw materials for industrial production.
He said a steering committee to be headed by the Minister of Trade and Investment has also been set up to work out the modalities for the commencement of the privatization soon.
He said the council also approved the relocation of associated maritime services from Terminal B, Old Warri Port to Terminal A, New Warri Port originally concessioned to the company AMX.
Umar, who noted that the terminal B has some structural defects, said “it is currently undergoing total rehabilitation.”
He said the council also considered the draft electric power sector amendment bill seeking penalties for the theft of electricity lines and materials.
Weekly Trust
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