Reps clear BPE over sale of Nitel, Mtel

THE House of Representatives yesterday gave the Bureau of Public Enterprises, BPE a clean bill of health over the sale of, NITEL, and its mobile network, Mtel to a consortium of seven foreign and local firms NATCOM. This was contained in 4 of the recommendations in the report of the Committees set up to investigate the sale at the Committee of the Whole House and it was adopted. The recommendations are: “That the Bureau of Public Enterprises (BPE) in enforcing due process, transparency and adopting procedure in line with international best practice during the entire sale process should adopt and apply such procedure in future Privatization exercises;

“That the Federal Government should encourage NATCOM Consortium, owners of NITEL and MTEL by creating an enabling environment that will make the two entities compete favorably with other Telecom Companies. This is because, NATCOM Consortium is an indigenous Company with great potentials for creating employment opportunities, reducing the huge amount of capital flight that is currently being experienced in the telecoms sector and foster strategic competition that is capable of further reducing the cost of communications in Nigeria, “That the Nigerian Communications Commission ,NCC, should meet its obligations and commitments to the Bureau of  Public Enterprises and the core investor (NATCOM) in line with the Presidential approval on licenses and spectrum for the effective take-off of NITEL and MTEL; That the Bureau of Public Enterprises in its post-acquisition functions, should in line with efficacy and efficiency, encourage a local company like NATCOM, being the core investor.

Read more at: http://www.vanguardngr.com/2016/03/reps-clear-bpe-over-sale-of-nitel-mtel/