By Vivian Emoni
The Abuja Chamber of Commerce and Industry (ACCI) has advocated stronger private-sector participation through Public-Private Partnerships (PPPs), to revive viable moribund state-owned enterprises.
Mr Agabaidu Jideani, Director-General of the chamber made the suggestion in an interview with the News Agency of Nigeria (NAN), on Friday in Abuja.
Jideani said that collaboration between government and private investors was critical to restoring viable state-owned enterprises, while calling for comprehensive reforms and professional management to revive the sector.
According to him, stronger private-sector participation through PPPs will strongly support the reviving of the viable enterprises.
“The revival required treating the enterprises as economic assets that must be commercially viable, professionally managed and accountable for results,” he said.
The director-general also recommended comprehensive audits to determine the enterprises’ financial positions, assets, liabilities, infrastructure conditions, market potential and reasons for their decline.
He said that the government should classify enterprises based on their strategic importance, commercial viability and the need for restructuring or repurposing.
He suggested that viable enterprises should undergo recapitalisation, debt restructuring, technology upgrades and rehabilitation of critical infrastructure to restore their productive capacity.
He emphasised the need for strong corporate governance and professional management, with boards appointed based on competence, integrity and relevant industry experience.
Jideani, however, called for clear and measurable performance targets, adding that management should enjoy operational autonomy while remaining accountable for productivity and service delivery.
“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,” he said.
The ACCI D-G described PPPs as an important instrument for reviving viable enterprises where government lacked sufficient capital, technology or managerial expertise.
He noted that the PPPs arrangement should involve clearly defined responsibilities, risks, rewards and performance obligations for both government and private investors.
He said various PPPs models could be considered, including management contracts, leases, concessions, joint ventures and strategic equity partnerships.
He added that the appropriate model should depend on the nature, strategic importance and commercial potential of each enterprise.
He said that private investors could provide capital, technology, innovation, modern management systems, market access and operational expertise to support enterprise revival.
Jideani urged the government to provide an enabling regulatory environment, facilitate infrastructure access, protect public interests and preserve strategic national objectives.
He said that successful partnerships would require transparent procurement, clearly defined performance indicators, appropriate risk allocation, regular monitoring and accountability.
He also advocated collaboration involving financial institutions, development finance institutions, organised private sector groups, labour, host communities, technical experts and research institutions.
He said Nigeria could learn from Asian economies by pursuing consistent industrial policies, investing in infrastructure and human capital, promoting manufacturing and strengthening enterprise competitiveness.
The director-general added that Nigeria’s enterprise revival should form part of a broader industrial transformation agenda focused on productivity, technology, local value addition and global competitiveness.(NAN)
Edited by Francis Onyeukwu