The Federal Government has begun the process for the commercialization of four River Basin Development Authorities (RBDAs) in the country – the Niger-Delta, Sokoto-Rima, Ogun-Osun and Upper Niger.
Alex Okoh, Director General of the Bureau of Public Enterprises (BPE) announced this during the kick-off meeting for the commencement of Transaction Advisory services by Agri-Africa Consultant A&E Law and Partnership Consortium for the Partial commercialisation of the four RBDAs.
Okoh who said the main objective of the advisory service is to restructure and reposition the RBDAs for partial commercialisation and optimum performance, stated that the kick-off meeting was to formally introduce the advisers to the Minister and other key stakeholders.
He further explained that the scope of work for Agri-Africa Consultant A& E Law and Partnership Consortium is basically to provide the requisite advice and support required for the Federal Government to successfully implement the partial commercialisation of the RBDAs in a manner consistent with relevant national policies, laws and international best practices.
The BPE Director – General added that the scope of work to be done by the Consultant also include, the conduct of diagnostic study on the four RBDAs and define their business objectives and to develop a strategic plan to achieve its operational goals.
“Identify, verify, record, classify and value the key assets of the RBDAs including status of title documents of their lands. Implement in conjunction with the BPE, the Partial Commercialisation of the four (4) RBDAs.
“Develop quality management system, chart of Accounts and opening balance sheets for the four (4) pilot RBDAs based on internationally acceptable standards and introduce operational tools developed through a one-off training; and the Advisers shall Incorporate, Restructure and Reposition the four (4) named RBDAs to be self-sustaining,” Okoh revealed.
Also speaking at the meeting, Minister of Water Resource, Suleiman Hussein Adamu who was represented by the Director, River Basins Authority and Inspectorate of the Minister of Water Resources, John Chigbo said the RBDAs project was in line with the vision of the ministry and promised to support and cooperate with Adviser in the course of the project.
The Team Leader of the Agri-Africa consultant A&E Law and Partnership Consortium, Chigbozu Ekwekwuo expressed gratitude for the opportunity avail to the consortium to serve the nation, adding that the consortium had assembled a credible team to deliver the project and make agriculture work in Nigeria.
CULLED FROM BUSINESSDAY