The federal government will soon reverse some of the colonial laws especially in the transport sector, to allow the participation of the private sector in especially the railway sector.Vice President Namadi Sambo, who is also the Chairman of the National Council on Privatisation, said this on Monday while speaking at the first meeting of the Council for the year 2012 in Abuja.
He also reiterated the federal government’s plan to reduce its number of agencies. “The policy of government is to reduce the agencies and commissions because of cost,” he said.The National Council on Privatisation also approved, among others, that state governments through an agreement with the relevant distribution companies be allowed to increase access to electricity to their citizens but not to play any role in the management of the privatised successor companies.
It stated that in accordance with the Independent Electricity Distribution Network regulation to be enacted by the Nigerian Electricity Regulatory Commission, a state that desires to build independent distribution networks within areas of its state not currently served within each distribution franchise area could do so.Council also approved that ‘Guided Liquidation’ be adopted as the strategy for the privatisation of NITEL/Mtel in view of the huge liabilities of both companies and the fact that there was no viable financial alternative presented by the management of the companies.Concerning government’s investment in the Royal Swaziland Sugar Company,
Sambo said government should continue to invest if there is good return on investment but more important would be to develop our indigenous sugar companies.