Vice President Kashim Shettima has inaugurated the newly reconstituted National Council on Privatisation (NCP), emphasizing its crucial role in implementing various Public-Private Partnership (PPP) projects in Nigeria. Shettima, who also chairs the NCP, charged members with charting the path to the country’s economic prosperity. The NCP is tasked with economic sector reform, privatisation, commercialisation, and PPP programs for the next four years. The Vice President highlighted the importance of the NCP’s role in optimizing government-owned entities and assets for the well-being of all Nigerians.
Key Points:
- Vice President Kashim Shettima has inaugurated the National Council on Privatisation (NCP), stressing its role in implementing Public-Private Partnership (PPP) projects in Nigeria.
- Shettima, who chairs the NCP, urged members to contribute to the country’s economic prosperity by leveraging the council’s strategic national assignment.
- The NCP is mandated to determine and formulate strategic plans, approve policies, and drive economic reforms across various sectors.
- Members of the NCP include the Vice President (Chairman), the Vice Chairman (Minister of Finance and Coordinating Minister of the Economy), the Attorney General of the Federation, the Minister of Budget and Economic Planning, the Minister of Industries, Trade, and Investment, the Secretary to the Government of the Federation, the Governor of the Central Bank of Nigeria, and other private and public sector representatives.
- The NCP is expected to play a crucial role in optimizing government-owned entities and assets for the socio-economic development of Nigeria, focusing on infrastructure development, job creation, and creating an enabling environment for productive activities.
Analysis: The inauguration of the National Council on Privatisation (NCP) by Vice President Kashim Shettima underscores the government’s commitment to economic reforms, privatisation, and fostering public-private partnerships in Nigeria. The NCP’s mandate to drive sectoral reforms and optimize government-owned assets aligns with broader efforts to enhance efficiency, attract investments, and promote economic growth.
The diverse composition of the NCP, including public and private sector representatives, reflects a collaborative approach to economic governance. The emphasis on leveraging human and natural resources for the benefit of the people indicates a focus on inclusive development and the overall well-being of Nigerians.
As the NCP embarks on its strategic national assignment, the successful implementation of PPP projects and economic reforms will be closely monitored for their impact on job creation, infrastructure development, and the broader socio-economic landscape. The council’s role in providing an enabling environment for productive activities and contributing to accelerated economic growth will be instrumental in shaping Nigeria’s economic trajectory.