Vice President Shettima inaugurated the newly constituted National Council on Privatisation (NCP). Emphasizing the pivotal role of the NCP in achieving President Bola Ahmed Tinubu’s Renewed Hope agenda, the Vice President called on the council members to be at the forefront of implementing key economic reforms. He highlighted the necessity of disruptive thinking, echoing President Tinubu’s visionary approach as a catalyst for transformative change.
Council Membership: A Strategic Selection Process
Vice President Shettima commended President Tinubu’s meticulous selection of NCP members, asserting that their diverse talents and wealth of experience exemplify their capability to deliver on the council’s mission. The Vice President emphasized that membership is not just symbolic participation but a commitment to realizing a Nigeria replete with opportunities, growth, and empowerment. Stressing the strategic national assignment entrusted to the council, Shettima noted its responsibility for steering economic sector reform, privatization, commercialization, and Public-Private Partnership (PPP) programs over the next four years.
President Tinubu’s Vision: A Call for Fresh Ideas
During the inauguration, Vice President Shettima underscored President Tinubu’s commitment to fresh ideas, citing him as a disruptive thinker. The Vice President urged the council members to draw inspiration from the President’s approach and contribute actively to the economic rejuvenation and liberalization of Nigeria. Shettima positioned the council’s work at the forefront of economic revitalization, focusing on unlocking the nation’s immense economic potential through reforms, PPPs, and privatization.
Duty and Privilege: Serving the Nation’s Socio-Economic Development
Addressing the council members, Senator Shettima emphasized the privilege of serving the nation through socio-economic development. He urged them not to rest on their laurels but to actively contribute to accelerated economic growth, infrastructure development, job creation, and the creation of an enabling environment for productive activities. Shettima stressed the importance of leveraging the nation’s abundant resources for the benefit of all Nigerians, aligning their efforts with the promises of the Tinubu administration.
Statutory Responsibilities: Navigating the Privatization Landscape
Vice President Shettima outlined the statutory responsibilities of the NCP in line with the Public Enterprises (Privatization and Commercialization) Act 1999. These include approving policies on privatization and commercialization, setting guidelines for the valuation of public enterprises, approving prices for shares or assets, establishing the legal and regulatory framework for reform, and periodically reviewing the socio-economic impact of privatization programs. The Vice President highlighted the council’s authority to appoint committees for specific advice on privatization and commercialization, emphasizing the importance of a thorough, structured approach to these endeavors.
A Call to Action for Economic Rejuvenation by Vice President Shettima
As the National Council on Privatisation embarks on its strategic role in shaping Nigeria’s economic future, Vice President Shettima’s inaugural address serves as a clarion call for disruptive thinking and decisive action. The council members are entrusted with the critical task of steering the nation towards economic rejuvenation, and their commitment to the Renewed Hope agenda will be instrumental in fostering growth, employment, and empowerment for all Nigerians. The spotlight is now on the NCP to enact transformative reforms, realizing the vision set forth by President Bola Ahmed Tinubu’s administration.
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