“Transforming Visions Into Reality: The Remarkable Tenure Of Alex Okoh At BPE”

In the bustling capital city of Nigeria, the Bureau of Public Enterprises (BPE) found a visionary leader in Alex A. Okoh. His appointment as the Director General (DG) marked the beginning of a transformative era for the organization and, by extension, the nation’s economic landscape. Prior to his appointment as DG, BPE in April 2017, Alex, an alumnus of Harvard Business School, was an astute investment banker and Finance expert who at different times was the Managing Partner, Ashford & McGuire Consulting Ltd. and Managing Director/CEO of NNB International Bank.

 

From the onset, Alex demonstrated a commitment to transparency, efficiency, accountability and result orientation. He embarked on a mission to revitalize the BPE, with a vision of fostering a dynamic business environment that would attract both local and international investors. This led to his restructuring the Bureau:

• Rediscovery
  • Redefined core values
  • Human Capital Development
  • Staff welfare
  • Performance management (introduction of the Balanced Score Card)
  • Internal Collaboration
  • Strengthening Multilateral partnerships
• Repositioning
  • Robust post transaction management
  • Reclaim mandate
  • Generate new transactions
  • Reinvigorate sector reforms
  • Stakeholder engagement
  • Reinvent public image
  • Robust IT strategy
• A New Bureau
  • Focus on Public Private Partnerships
  • Improve staff welfare
  • The BPA Act
  • FGN Asset Optimisation
  • BPE Transformation Project
  • Organisation Restructuring (2022)
  • Strategic stakeholder engagement

AWARDS

Owing to his outstanding performance during his tenure, he was the first DG in the history of BPE to be re-appointed for a second tenure, in addition to that, he received the following prestigious awards:

 

• Public Administrator of the Year 2022 – Pink Awards International
• Public Sector CEO of the year 2021 – Independent Newspaper

 

One of Okoh’s notable accomplishments was the successful execution of a comprehensive privatization strategy. Under his leadership, several state-owned enterprises were strategically divested, injecting new life into the private sector and creating a competitive market. This move not only attracted investments but also generated substantial revenue for the government. Some of the flagship transactions include:

 

• Core investor sale of 60% shares of Yola Electricity Distribution Company
• Core investor sale of Afam Power Plc and Afam Three Fast Power Limited
• Core investor sale of 20% shares of Geregu Power Plc
• Concession of Warri Old Terminal Port
• Core investor sale of Nigeria Security Printing and Minting Plc
• Asset sale of Mineral House
• Asset sale of Makeri house
• Oversaw the successful closure of share sale and asset transfer of the Aba Ring Fenced Area to Geometric, Aba Power Limited from Interstate Electric
• Oversaw the origination of the Presidential Power Initiative (also known as the Siemens Deal), culminating in the operationalization of FGN Power Company Limited
• Member of the Presidential Working Group on Power Chaired by the Vice President of Nigeria, saddled with the responsibility of executing the Power Sector Recovery Program and reforming the Nigeria Electricity Supply Industry
• Privatisation of Omotosho Power Plant (up to financial bid opening)
• Privatisation of Oloronsogo Power Plant (up to financial bid opening)
• Privatisation of Ihobvor Power Plant (up to financial bid opening)
• Privatisation of Calabar NIPP Power Plant (up to financial bid opening)
• Privatisation of Geregu NIPP Power Plant (up to financial bid opening)
• Concession of Zungeru Hydropower Plant

 

Alex Okoh’s tenure was marked by a series of groundbreaking initiatives to promote public-private partnerships (PPPs) in Nigeria. He facilitated strategic collaborations between the public and private sectors as well as with Development Finance Institutions, leading to the creation of a portfolio of critical infrastructure projects across the country to be procured via PPP. These partnerships will not only address infrastructural deficits but will also create employment opportunities and spur economic growth.

 

In his efforts to promote corporate governance and integrity, Okoh implemented robust systems to curb corruption within the bureau. His commitment to accountability earned the trust of both local and international stakeholders, boosting investor confidence in Nigeria’s business environment.

 

Under Alex Okoh’s leadership, the Bureau of Public Enterprises evolved into a beacon of progressive economic policies and practices. His legacy, will leave an indelible mark on the nation’s economic landscape and setting the stage for sustained growth and development.