FG to Privatise 91 Public enterprises to Boost Investment

The Federal Government has unveiled plans to privatise 91 public enterprises across strategic sectors of the economy in a bid to attract fresh investment and improve operational efficiency.

Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Gbeleyi, disclosed this at a media briefing in Abuja on Tuesday, noting that the enterprises span oil and gas, aviation, agriculture, transport, steel, eco-tourism, and agencies under the Federal Capital Territory Administration.

According to him, 35 of the firms will be fully privatised while 57 will undergo partial divestment. He declined to name the specific companies, citing corporate confidentiality and strategic considerations.

“There are 91 public enterprises that are still outstanding within the purview of the Public Enterprises Act,” Gbeleyi said. “Privatisation and concessioning are painstaking exercises. If you must get it right, they have to be rigorous, one transaction at a time.”

The BPE boss explained that the process would engage financial, legal, and technical advisers to determine the best transaction structures. He pointed to the liberalisation of the telecoms industry as evidence that privatisation could unlock growth.

“If we had allowed NITEL to continue as an incumbent monopoly, the telecom and e-commerce boom we see today would not have happened,” he said.

On the power sector, Gbeleyi acknowledged challenges but insisted reforms had prevented total collapse. He revealed that government plans to list two electricity Distribution Companies (DisCos) and one Generation Company (GenCo) on the Nigerian Stock Exchange, though he withheld names for confidentiality reasons.

He also highlighted ongoing projects aimed at job creation and skills development, including the planned delivery of 3.2 million electricity meters, most to be installed by Nigerian technicians, with another 2.5 million in the pipeline.

“Even with challenges, stakeholders are working to reposition the sector,” he added. “Our youths are also acquiring globally competitive skills, especially in telecoms.”

On compliance, Gbeleyi said the BPE had created a new unit under its legal department to strengthen contract management and ensure best practices.

“Under my watch, we will remain law-abiding and ensure transparency in every transaction,” he assured.