BY CHIKA OKEKE, Abuja
The Abuja Chamber of Commerce and Industry, ACCI, has sought strategic alliance with the government and private investors to restore viable State-owned enterprises, as well as comprehensive reforms and professional management to revive the sector.
Director-General of ACCI, Mr Agabaidu Jideani informed journalists on Monday in Abuja, that stronger participation through Public Private Partnership, PPP, is critical for reviving the viable enterprises.
He recommended comprehensive audits to determine the enterprises’ financial positions, assets, liabilities, infrastructure conditions, market potential and reasons for their decline, saying that the government should classify enterprises based on their strategic importance, commercial viability and the need for restructuring or repurposing.
Jideani hinted that viable enterprises should undergo recapitalisation, debt restructuring, technology upgrades and rehabilitation of critical infrastructure to restore their productive capacity, emphasising the need for strong corporate governance and professional management, with boards appointed based on competence, integrity and relevant industry experience.
He requested clear and measurable performance targets, saying that management should enjoy operational autonomy while remaining accountable for productivity and service delivery.
Jideani said: “Operating challenges, including unreliable power, inadequate infrastructure, regulatory bottlenecks and limited access to finance, must be addressed.
“The reviving of the enterprise should go beyond government funding to include corporate restructuring, technology, innovation, access to finance, competitive markets and accountability. The objective should be to transform state enterprises into productive assets that contribute to economic growth, create jobs and strengthen local value chains.”
The DG described PPPs as an important instrument for reviving viable enterprises where the government lacked sufficient capital, technology or managerial expertise, stating that the PPPs arrangement should involve clearly defined responsibilities, risks, rewards and performance obligations for both the government and private investors.
He informed that various PPPs models could be considered, including management contracts, leases, concessions, joint ventures and strategic equity partnerships, noting that the appropriate model should depend on the nature, strategic importance and commercial potential of each enterprise.
Jideani stated that private investors could provide capital, technology, innovation, modern management systems, market access and operational expertise to support enterprise revival, encouraging the government to provide an enabling regulatory environment, facilitate infrastructure access, protect public interests and preserve strategic national objectives.
He argued that successful partnerships would require transparent procurement, clearly defined performance indicators, appropriate risk allocation, regular monitoring and accountability.
To this end, he advocated collaboration involving financial institutions, development finance institutions, organised private sector groups, labour, host communities, technical experts and research institutions.
Jideani noted that Nigeria could learn from Asian economies by pursuing consistent industrial policies, investing in infrastructure and human capital, promoting manufacturing and strengthening enterprise competitiveness.
He said that Nigeria’s enterprise revival should form part of a broader industrial transformation agenda focused on productivity, technology, local value addition and global competitiveness.
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