Section 14: Functions: commercialisation

The functions of the Bureau in respect of commercialisation are to-(a) implement the Council's policy on commercialisation;
(b) prepare public enterprises approved by the Council for commercialisation;
(c) advise the Council on further public enterprises that may be commercialised;
(d) ensure the updating of the accounts of all commercialised enterprises to ensure financial discipline;
(e) ensure the success of the commercialisation exercise and monitor, on a continuous basis for such period as may be considered necessary, the operations of the public enterprises after commercialisation;
(f) review the objectives for which public enterprises were established in order to ensure that they adapt to the changing needs of the economy;
(g) ensure that public enterprises are managed in accordance with sound commercial principles and prudent financial practices;
(h) interface with the public enterprises, together with the supervising Ministries, in order to ensure effective monitoring and safeguard of the public enterprises managerial practices;
(i) ensure that the Board and Management of each commercialised enterprise and the Government of the Federation keep to the terms and conditions of the Performance Agreements, if any, between the public enterprise concerned and the Government of the Federation;
(j) maintain and review on a continuous basis, any Performance Agreement between a public enterprise and the Government of the Federation;
(k) evaluate and recommend to the Council whether or not a public enterprise is eligible for funding through grants, loans, subventions or equity; and
(l) perform such functions with respect to commercialisation as the Council may, from time to time, assign to it.