On the Federal Government’s 40 per cent stake in the Distribution Companies , Mr Malo said the shares were still intact and protected by BPE.
He said the Bureau expected to generate N493.40 billion net revenue from various transactions as approved by the National Council on Privatisation . He, however, said the plan to privatise the nation’s refineries had been dropped as the Federal Government was considering other approaches to revitalise and improve on them.
Mr Okoh said the rationale for privatisation was to generate revenue for government, reduce operational inefficiencies, revitalise and optimise public sector entities and increase investment level as a catalyst for growth.
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