The Federal Government has unveiled an ambitious plan to privatise or concession at least 91 public enterprises, a move aimed at unlocking new investments and improving efficiency in critical sectors of the economy.
Among the assets slated for restructuring are Ajaokuta Steel Company, Tafawa Balewa Square, Lagos Trade Fair Complex, the country’s four refineries, and five major international airport terminals.
Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, disclosed this in Abuja, stressing that the process would be handled transparently, with each transaction carefully structured.
“This exercise will not be rushed. Every deal will be treated on its own merit, with detailed technical, legal, and financial reviews guiding the process,” Gbeleyi explained.
According to him, each enterprise will undergo a full feasibility assessment to determine the best concession or privatisation model.
“We can’t arbitrarily assign values or terms,” he said. “We rely on expert advisers to analyse the business case, regulatory environment, and operational realities before setting any benchmarks.”
He noted that some assets may require direct concessions, others equity sales, while some could be listed on the Nigerian Stock Exchange.
“The structure depends on what the studies reveal. Until we complete that stage, it’s impossible to predict the exact figures or models,” he added.
Citing the success of previous reforms, Gbeleyi highlighted how similar initiatives transformed Nigeria’s telecommunications, pensions, ports, and aviation sectors.
The telecom industry, he said, now boasts over 169 million active lines and contributes 14.4 per cent to the nation’s GDP, with broadband penetration surpassing 100 million users.
The country’s e-commerce market, valued at $15 billion in 2023, is projected to more than double to $33 billion by 2026.
In the pensions sector, assets under management have reached ₦24.63 trillion with nearly 11 million contributors.
Port reforms, which led to the leasing of 26 terminals, have attracted over $2.5 billion in private investment and cut cargo dwell time to under a week.
Aviation has also seen substantial growth, with ground-handling firms like NAHCO and SAHCO recording exponential increases in revenue since their restructuring.
“These figures show how strategic reforms can reshape sectors and create economic value,” Gbeleyi stated.
“Our task is to sustain this momentum, ensuring state-owned enterprises become drivers of growth rather than burdens on public finances.”
The upcoming privatisation wave is expected to draw local and foreign investors, create new jobs, and strengthen Nigeria’s infrastructure backbone.
Government officials believe the move will boost public revenue through concession fees, taxes, and improved operational performance across multiple industries.