The Federal Government is committed to providing the enabling environment and necessary support for all privatised enterprises in the country to perform optimally so that the objectives of privatisation would be realised.
The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex A. Okoh,gave the assurance while speaking during the handover of the Certificate of Occupancy (C of O) of Ikorodu Bricks and Clay Limited (IB & CL) to the core investor- Continental Project Development & Supplies Ltd. (CPDSL) in Abuja on Wednesday.
Amina Tukur Othman, BPE’s Head, Public Communications, said in a statement that the conditions inclue:”Execution of revised Performance Agreement which was submitted by the core investor in May 2021. The Bureau will monitor the implementation of the Post Acquisition Plan (PAP) to ensure strict compliance; and that the Core Investor to note the addendum to the Share Sales/Purchase Agreement (SSPA) which prevents the Core Investor from the sale or disposal of part or the whole Shares or land of the company without the prior notice and approval of the Bureau”.
The Director General tasked the CPDSL to revive the company and bring it to profitability in the shortest timeframe and for the benefit of Nigerians.
Responding, the company’s Group Chairman, Prince Albert Awofisayo said the company would abide by the reviewed Share Purchase Agreement (SPA) to resuscitate the company to generating employment in Nigeria.
He implored the Federal Government to intervene in the power supply to the company as the cost of generating power by the company was expensive.
