• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Osinbajo hails Supreme Court ruling endorsing Virtual Proceedings

Nigerian Govt Delists 3 Privatized Firms From BPE’s Monitoring Activities

3 years ago
Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

6 hours ago
US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

7 hours ago
Liberian President Slain In Coup Receives State Funeral After 45 Years

Liberian President Slain In Coup Receives State Funeral After 45 Years

9 hours ago
US-Africa Summit Wraps Up with Trade and Investment Deals Worth Over $2.5 Billion

US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

9 hours ago
Upset Galore as Big Guns Man City, Inter Milan Exit Club World Cup

Upset Galore as Big Guns Man City, Inter Milan Exit Club World Cup

9 hours ago
Wednesday, July 2, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    U.S.-Africa Business Summit: Washington Denies “Abusive” Tariff Against Africa

    U.S.-Africa Business Summit: Washington Denies “Abusive” Tariff Against Africa

    Uganda: After 39 Years In Office, 80-Year-Old Museveni Seeks Re-Election

    IWD 2023: Women In Media Harp On Importance Of Digital Skills For Female Journalists

    Nigeria: Momentum Builds As Women Journalists Push For Passage Of Special Seat Bill

    Mali’s Military Leader, Goita Meets Putin After Ditching ECOWAS

    Mali’s Military Leader, Goita Meets Putin After Ditching ECOWAS

    WAES2025: Liberian Leader Wants ECOWAS’ Door Open To Junta-led Niger, Mali, Burkina Faso

    WAES2025: Liberian Leader Wants ECOWAS’ Door Open To Junta-led Niger, Mali, Burkina Faso

    Tunisian Court Slams 15-Year Jail Term On Another Opposition Figure

    Tunisian Court Slams 15-Year Jail Term On Another Opposition Figure

  • Economy
    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    US-Africa Summit Wraps Up with Trade and Investment Deals Worth Over $2.5 Billion

    US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

    S/Africa Introduces $54 Million Incentive To Boost Local Manufacturing Of EVs

    South Africa Secures $474.6 Million Loan From AfDB To Boost Energy Transition

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

    Namibia Sends First AfCFTA Shipment To Nigeria

    Namibia Sends First AfCFTA Shipment To Nigeria

    Afreximbank Shareholders Name Cameroonian George Elombi As New President

    Afreximbank Shareholders Name Cameroonian George Elombi As New President

    Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

    Ethiopia Opens Doors To Foreign Banks, Paving Way For Competition

    Afreximbank Meetings Close With Calls For African Self-Reliance And Hard-Earned Partnerships

    Afreximbank Meetings Close With Calls For African Self-Reliance And Hard-Earned Partnerships

    Nigeria: President Tinubu Signs Tax Reform Bill Into Law

    Nigeria: President Tinubu Signs Tax Reform Bill Into Law

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    Ivory Coast: AU Court Rejects Gbagbo’s Bid To Seek Re-Election

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    SA: Crack Widens In Unity Govt As DA Withdraws From National Dialogue

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    Cameroon: Influential Minister Resigns, To Challenge President Biya At Polls

    U.S.-Africa Business Summit: Washington Denies “Abusive” Tariff Against Africa

    U.S.-Africa Business Summit: Washington Denies “Abusive” Tariff Against Africa

    Uganda: After 39 Years In Office, 80-Year-Old Museveni Seeks Re-Election

    IWD 2023: Women In Media Harp On Importance Of Digital Skills For Female Journalists

    Nigeria: Momentum Builds As Women Journalists Push For Passage Of Special Seat Bill

    Mali’s Military Leader, Goita Meets Putin After Ditching ECOWAS

    Mali’s Military Leader, Goita Meets Putin After Ditching ECOWAS

    WAES2025: Liberian Leader Wants ECOWAS’ Door Open To Junta-led Niger, Mali, Burkina Faso

    WAES2025: Liberian Leader Wants ECOWAS’ Door Open To Junta-led Niger, Mali, Burkina Faso

    Tunisian Court Slams 15-Year Jail Term On Another Opposition Figure

    Tunisian Court Slams 15-Year Jail Term On Another Opposition Figure

  • Economy
    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

    US-Africa Summit Wraps Up with Trade and Investment Deals Worth Over $2.5 Billion

    US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

    S/Africa Introduces $54 Million Incentive To Boost Local Manufacturing Of EVs

    South Africa Secures $474.6 Million Loan From AfDB To Boost Energy Transition

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

    Celebration Of Excellence: Nigerian Govt Rewards Outstanding Civil Servants With Brand New Cars, House

    Namibia Sends First AfCFTA Shipment To Nigeria

    Namibia Sends First AfCFTA Shipment To Nigeria

    Afreximbank Shareholders Name Cameroonian George Elombi As New President

    Afreximbank Shareholders Name Cameroonian George Elombi As New President

    Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

    Ethiopia Opens Doors To Foreign Banks, Paving Way For Competition

    Afreximbank Meetings Close With Calls For African Self-Reliance And Hard-Earned Partnerships

    Afreximbank Meetings Close With Calls For African Self-Reliance And Hard-Earned Partnerships

    Nigeria: President Tinubu Signs Tax Reform Bill Into Law

    Nigeria: President Tinubu Signs Tax Reform Bill Into Law

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Nigerian Govt Delists 3 Privatized Firms From BPE’s Monitoring Activities

February 6, 2022
in Economy, Top Stories
0
Nigeria's Vice President, Yemi Osinbajo

Nigeria's Vice President, Yemi Osinbajo

0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By Emmanuel Nduka

Nigeria’s Vice President, Yemi Osinbajo, through the National Council on Privatization (NCP), has approved the delisting of three privatized enterprises from routine monitoring activities of the Bureau of Public Enterprises (BPE).

Relatedreading

Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

This was revealed by Ibeh Uzoma Chidi, Head, Public Communications, in a statement, noting that this is after they had fulfilled their covenants as identified in the Key Performance Indicators (KPIs) contained in the Share Sale and Purchase Agreement (SSAP) signed with the BPE.

The delisted companies are Federal Superphosphate Fertilizer Company (FSFC), Kaduna; Cement Company of Northern Nigeria (CCNN) Sokoto and Ikoyi Hotel (now Southern Sun) Lagos.

The statement adds that the delisting followed a request by the BPE to the NCP for approval at its maiden meeting for year 2022 which held for two days (Monday, January 31, 2022 and February 1, 2022) at the Presidential Villa, Abuja.

Further in its request, the Bureau noted that it had carried out a review of the enterprises in line with BPE’s mandate to manage post—privatisation issues of privatised public companies and was satisfied the core investors had ensured compliance with the covenants.

The BPE stated that it had developed standard processes and procedures for delisting privatised enterprises which all privatised enterprises are bound to comply with before being recommended for delisting.

In assessing the now delisted enterprises, BPE said it reviewed all the data submitted by the Core Investors in Line with their KPIs as indicated in the SSPA and followed up with an on-the spot assessment of the companies to validate the data submitted which showed excellent performance.

It would be recalled that FSFC was incorporated in September 1973 with an installed capacity of 100,000 metric tons per annum and later privatized in 2005. It was subsequently handed over to the Core Investor, Messrs HEIKO Consortium in January 2006.

Whereas, the Ikoyi Hotels also called Nigerian Hotels Limited, was established in 1932 and owned 100% percent by the Nigerian Government, was privatized through Assets Sale to BETA Consortium Limited with a bid price of $13,867,000.000 and handed to the investor in 2003.

Also, the Cement Company of Northern Nigeria Plc (CCNN), Sokoto was commissioned in 1967 with the Federal Government owning 45% shares of the Company.

Then in 2000, the Nigerian Government shares were divested through a strategic Core Investor sale/Initial Public Offer. During its privatization, an already existing shareholder and technical partner to CCNN, ScanCem/Dammnaz International Limited emerged as the core investor of the company.

Subsequently in 2010, the company was acquired by BUA international.

 

 

Tags: BPEbreakingBUACCNNFSFCHeritageheritage timesheritagetimesmedialatestnewsthe heritage timesthtthtafricatop storiesYemi Osinbajo
ShareTweetSend
Previous Post

Nigeria Needs Younger Generation Of Leaders– Former Head Of State Abdulsalami

Next Post

JUST IN: Sadio Mane Scores Winner As Beat Egypt To Clinch AFCON Title

Related Posts

Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

July 1, 2025
US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

July 1, 2025

Liberian President Slain In Coup Receives State Funeral After 45 Years

US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

Upset Galore as Big Guns Man City, Inter Milan Exit Club World Cup

Zambia Unveils $100M Solar Power Plant To Tackle Energy Crisis

Next Post
JUST IN: Sadio Mane Scores Winner As Beat Egypt To Clinch AFCON Title

JUST IN: Sadio Mane Scores Winner As Beat Egypt To Clinch AFCON Title

Please login to join discussion
AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

July 1, 2025
US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

July 1, 2025
Liberian President Slain In Coup Receives State Funeral After 45 Years

Liberian President Slain In Coup Receives State Funeral After 45 Years

July 1, 2025
US-Africa Summit Wraps Up with Trade and Investment Deals Worth Over $2.5 Billion

US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

July 1, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

Nigeria: Govt Says Deliberate Policies Boosting Investors’ Confidence In Oil & Gas Sector

July 1, 2025

US-Based Lawyer Owolabi Salis Becomes First Nigerian To Travel To Space

July 1, 2025

Liberian President Slain In Coup Receives State Funeral After 45 Years

July 1, 2025

US-Africa Summit Wraps Up With Trade And Investment Deals Worth Over $2.5 Billion

July 1, 2025

Upset Galore as Big Guns Man City, Inter Milan Exit Club World Cup

July 1, 2025

Zambia Unveils $100M Solar Power Plant To Tackle Energy Crisis

July 1, 2025

South Africa Secures $474.6 Million Loan From AfDB To Boost Energy Transition

July 1, 2025

Trump Demands Probe Of Subsidies Offered To Musk’s Firms

July 1, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

From Hope To Fear: Kenya Joins East Africa’s Crackdown On Free Expression

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In