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Post Privatisation Monitoring

 

 Post Privatisation Monitoring Department

 
Following the need to checkmate Investor non-compliance with the intent or legal covenants of the privatization programme, National Council on Privatization (NCP), at its 43rd meeting on Monday, December 12, 2005 approved the creation of the Post Privatization Monitoring Department to ensure compliance of investors with the legally binding obligations in the terms and conditions of sale including Core Investor covenants in the Share Sale/Purchase Agreements.
 
Mandate of the Department
The Post Privatization Monitoring Department has the following mandate:
  1. To Monitor and enforce compliance of investors in fulfilling the legally binding covenants as stipulated in the Share Sales Purchase Agreement (SSPA).
  2. To enforce full compliance with these covenants including the implementation of the approved Post Acquisition Plans, especially in the areas of new capital investments, execution of development plans, employment generation and other matters, compliance with safety, health and environmental requirements, etc.
  3. Asses how privatization has impacted on the privatized enterprises and the national economy generally.
Status of the Department
The Post Privatization Monitoring Department undertakes the following Monitoring Exercises:
  1. Power Monitoring: This is carried out by the department to ensure compliance of investors with the legally binding obligations in the terms and conditions of sale including Core investor covenants in the Share Sale and Purchase Agreements. It also aims to closely collaborate with other regulatory agencies to ensure that the new private owners fully abide by all regulatory and good corporate governance requirements so that public interest is protected in line with overall policy goals of privatization.
  2. Core Monitoring: This is carried out by the department as its core function to measure performance and enforce compliance of investors in fulfilling the legally binding covenants stipulated in the Share Sales/Purchase Agreements (SPA), primarily to enforce full compliance with these covenants including the implementation of the approved Post Acquisition Plans (PAP).
  3. Policy and Monitoring (PMC): This is carried out in conjunction with the Policy and Monitoring Committee (PMC) of the National Council on Privatization (NCP) to assess the impact of Government Sectoral Policies.  
Structure of the Department
The Post Privatization Monitoring Department comprises of Four Units as follows:
  1. Power (Distribution Companies), Cement, Paper and Vehicle plants;
  2. Transaction Support: Legal, Labour, Environment, Ntel/Mtel, Hotels & Steel Rolling Mills;
  3. Western Ports (Apapa and Tincan Ports Lagos), Transport, Mines, Quarries, Bricks & Clay Companies;
  4. Eastern Ports (Port Harcourt, Calabar, Koko and Warri), Power (Generation and Allied Matters), Oil Services & Sugar Companies.
The Power (Distribution Companies), Cement, Paper and Vehicle Plants Unit supervises the following sectors:
  • Power (Distribution Companies)
  • Cement Companies
  • Paper Mills
  • Vehicle Assembly Plants
The Transaction Support Unit addresses Legal, Labour, Environment issues. The Unit also supervises the following sectors:
  • N
  • i
  • tel/Mtel
  • Hotels
  • Steel Rolling Mills
The Western Ports, Transport, Mines, Quarries, Bricks & Clay Companies Unit supervises the following sectors:
  • Western Ports (Apapa and Tincan Ports, Lagos)
  • Transport
  • Mines
  • Quarries
  • Bricks and Clay Companies
The Eastern Ports, Power (Generation and Allied matters), Oil Services & Sugar Companies Unit supervises the following sectors:
  • Eastern Ports (Port Harcourt, Calabar and Warri)
  • Power (Generation and Allied matters)
  • Oil services companies
  • Sugar Companies
 

 Director's Profile

 
 
YUNANA JACKDELL MALO is the Director, Post Privatisation Monitoring department.
 
He joined the Bureau of Public Enterprises (then, Technical Committee on Privatization and Commercialization-TCPC) in 1993. He anchored the Committee work that produced the Nigerian National Petroleum Policy and the draft Petroleum Industry Bill. He was involved in the Telecommunications sector reforms work and the several attempts to privatize NITEL, as well as its eventual liquidation. He also functioned as Special Assistant to three former Director Generals of the Bureau and as Director, National Facilities and Agricultural Resources.
 
Born September 10 1964 in Bokkos District of the then Pankshin Division of Plateau State, Malo attended the Local Education Authority (LEA) primary school, Bokkos between 1971 and 1975. He was a pioneer student at the Government Secondary School, Mbar from 1975 to 1980 and attended the Federal School of Arts and Science, Victoria Island, Lagos before proceeding to the University of Jos, where obtained a Bachelor of Science degree in Economics. He is currently a Doctoral student with the University of Jos.
 
Before joining the Bureau, he worked as a lecturer in the Department of Economics in the University of Jos between 1989 and 1992.  
 
 
Malo, who enjoys reading, is married with children.