Within the bustling capital metropolis of Nigeria, the Bureau of Public Enterprises (BPE) discovered a visionary chief in Alex A. Okoh.
His appointment because the Director Basic (DG) marked the start of a transformative period for the group and, by extension, the nation’s financial panorama.
Earlier than he was appointed DG, BPE in April 2017, Alex, an alumnus of Harvard Enterprise Faculty, was an astute funding banker and Finance knowledgeable who at completely different instances was the Managing Associate, of Ashford & McGuire Consulting Ltd. and Managing Director/CEO of NNB Worldwide Financial institution.
From the onset, Alex demonstrated a dedication to transparency, effectivity, accountability, and consequence orientation.
He launched into a mission to revitalize the BPE, with a imaginative and prescient of fostering a dynamic enterprise surroundings that may appeal to each native and worldwide traders. This led to his restructuring of the Bureau:
Rediscovery
- Redefined core values
- Human Capital Improvement
- Workers welfare
- Efficiency administration (introduction of the Balanced Rating Card)
- Inside Collaboration
- Strengthening Multilateral partnerships
Repositioning
- Strong post-transaction administration
- Reclaim mandate
- Generate new transactions
- Reinvigorate sector reforms
- Stakeholder engagement
- Reinvent public picture
- Strong IT technique
A New Bureau
- Concentrate on Public-Non-public Partnerships
- Enhance employees welfare
- The BPA Act
- FGN Asset Optimizations
- BPE Transformation Mission
- Organisation Restructuring (2022)
- Strategic stakeholder engagement
AWARDS
Owing to his excellent efficiency throughout his tenure, he was the primary DG within the historical past of BPE to be re-appointed for a second tenure, along with that, he obtained the next prestigious awards:
- Public Administrator of the 12 months 2022 – Pink Awards Worldwide
- Public Sector CEO of the 12 months 2021 – Impartial Newspaper
Certainly one of Okoh’s notable accomplishments was the profitable execution of a complete privatization technique. Beneath his management, a number of state-owned enterprises had been strategically divested, injecting new life into the non-public sector and making a aggressive market.
This transfer not solely attracted investments but additionally generated substantial income for the federal government. A few of the flagship transactions embody:
- Core investor sale of 60% shares of Yola Electrical energy Distribution Firm
- Core investor sale of Afam Energy Plc and Afam Three Quick Energy Restricted
- Core investor sale of 20% shares of Geregu Energy Plc
- Concession of Warri Outdated Terminal Port
- Core investor sale of Nigeria Safety Printing and Minting Plc
- Asset sale of Mineral Home
- Asset sale of Makeri home
- Oversaw the profitable closure of share sale and asset switch of the Aba Ring Fenced Space to Geometric, Aba Energy Restricted from Interstate Electrical
- Oversaw the origination of the Presidential Energy Initiative (also called the Siemens Deal), culminating within the operationalization of FGN Energy Firm Restricted
- Member of the Presidential Working Group on Energy Chaired by the Vice President of Nigeria, saddled with the accountability of executing the Energy Sector Restoration Program and reforming the Nigeria Electrical energy Provide Trade
- Privatization of Omotosho Energy Plant (as much as monetary bid opening)
- Privatization of Oloronsogo Energy Plant (as much as monetary bid opening)
- Privatization of Ihobvor Energy Plant (as much as monetary bid opening)
- Privatization of Calabar NIPP Energy Plant (as much as monetary bid opening)
- Privatization of Geregu NIPP Energy Plant (as much as monetary bid opening)
- Concession of Zungeru Hydropower Plant
Alex Okoh’s tenure was marked by a collection of groundbreaking initiatives to advertise public-private partnerships (PPPs) in Nigeria.
He facilitated strategic collaborations between the private and non-private sectors in addition to with Improvement Finance Establishments, resulting in the creation of a portfolio of vital infrastructure initiatives throughout the nation to be procured through PPP.
These partnerships won’t solely tackle infrastructural deficits however may even create employment alternatives and spur financial development.
In his efforts to advertise company governance and integrity, Okoh applied sturdy programs to curb corruption throughout the bureau.
His dedication to accountability earned the belief of each native and worldwide stakeholders, boosting investor confidence in Nigeria’s enterprise surroundings.
Beneath Alex Okoh’s management, the Bureau of Public Enterprises developed right into a beacon of progressive financial insurance policies and practices.
His legacy, will go away an indelible mark on the nation’s financial panorama and setting the stage for sustained development and improvement.
