In 1986, after a downward turn in oil prices from its peak during the aftermath of the Iran crisis, Nigeria's government revenue began to dwindle, and it began selling some government assets. The Technical Committee on Privatization and Commercialization was created as a medium of setting the government's privatization agenda. Hamza Rafindadi Zayyad was then appointed the committee's first director. Today, the agency as evolved to become the Bureau of Public enterprises; one of the lasting non-ministerial government institutions in Nigeria's vacillating public agencies.