The
Act in its S.12 (1)
established the Bureau. It is a body corporate with perpetual succession and a
common seal and may sue and be sued in its corporate name. It is the
secretariat of the National Council on Privatization and is charged with the
overall responsibility of implementing the Privatization and Commercialization
program of the Federal Government of Nigeria and with a vision of being the
model reform agency.
The Technical Committee on Privatization
and Commercialization Act of (1988) (TCPC), submitted its Final report in 1993
and recommended the establishment of the Bureau of Public Enterprises (BPE) to
continue the Privatization process. The Federal Government accepted the
recommendation and promulgated the BPEs Decree No. 78 of 1993.
The Decree
repealed the TCPC Decree and transferred its functions to the BPE. With the
promulgation of the Decree which was gazetted in Government Notice No. 45B of
1st September, 1993, the members of the TCPC metamorphosed into the management
Board of the BPEs. Because of the success of the past exercise, the Military Government
under General Abdusalam Abubakar promulgated the Public Enterprises
(Privatization and Commercialization) Decree No. 28 in early 1998 (before the
handover to a democratically elected Government) which made it an Act. The Act
repealed the BPE Decree of 1993 and the Decree allows BPE to alter, add, delete
or amend the provisions in the document in the best interest of the country. It
was created by the National Council on Privatization (NCP).