Abuja, Nigeria – The federal government announced on Tuesday a sweeping initiative to privatize 91 public enterprises as part of its strategy to reduce direct ownership in commercial ventures and enhance their economic effectiveness.
The announcement was made by Mr. Ayodeji Gbeleyi, the Director-General of the Bureau for Public Enterprises (BPE), during a media briefing in Abuja.
While the specific names of the enterprises earmarked for privatization were not disclosed, Gbeleyi indicated that the list includes a diverse range of sectors. Among the 91 firms, 16 are in the oil and gas industry, 12 in agriculture, 20 in aviation, and 28 related to stadiums and other public enterprises. The remaining firms encompass various sectors such as mines and steel, transport, eco-tourism, and two agencies owned by the Federal Capital Territory Administration.
The BPE chief emphasized that the decision to privatize or concession any enterprise would be guided by national interest. He revealed that of the 91 firms, 35 will undergo full privatization, while 57 will see partial privatization; however, he did not specify which firms fall into these categories.
In alignment with the economic growth agenda set by the Presidency, Gbeleyi outlined the BPE’s intention to focus on 15 strategic projects aimed at generating approximately N312.3 billion under the 2025 Appropriation Act. This initiative includes the privatization of six revenue-generating projects and nine reform-based projects, with plans to enhance agricultural productivity for food security and accelerate transactions in the power sector to improve energy supply.
Addressing ongoing legal disputes stemming from prior privatization efforts, Gbeleyi stated that the BPE is actively collaborating with the Office of the Attorney General of the Federation to resolve complex legal issues associated with the Aluminum Smelter Company of Nigeria (ALSCON) and to address litigation concerning the Foreshore Towers property in Ikoyi, Lagos, part of the non-core assets from the privatized NITEL/MTEL.
Responding to concerns over the agency’s adherence to court orders, Gbeleyi assured that under his leadership, the BPE would respect all judicial directives. “The BPE will not disobey any court order as we have already strengthened our capacity to deal with the law and fulfill our mandate as a lead agency of the federal government of Nigeria,” he stated. Gbeleyi pledged that the agency would continue to operate lawfully and set a precedent for compliance with Nigerian laws.
As the federal government embarks on this ambitious privatization plan, the implications for various sectors and the broader economy remain to be seen, but the focus on enhancing operational efficiency and economic impact is clear.
