BPE to List Power Companies on Nigerian Stock Exchange as it Announces Privatisation of 91 Govt Assets

The Bureau of Public Enterprise (BPE) has announced an ambitious plan to list two electricity distribution companies (DisCos) and one electricity generation company (GenCo) on the Nigerian Exchange Limited (NGX) through an Initial Public Offering (IPO). This move, according to BPE Director-General Ayodeji Gbeleyi, is aimed at attracting investment and improving the efficiency of Nigeria's power sector.

In a press briefing in Abuja, Gbeleyi also revealed that there are ongoing arrangements to privatize a total of 91 government-owned enterprises across various sectors. The BPE chief stated that the specific names of the companies to be listed on the NGX will not be disclosed at this time due to confidentiality concerns.

Of the enterprises earmarked for privatization or commercialization, 16 are in the oil and gas sector, including refineries; 12 are in agriculture; 20 are in aviation; and 28 are in other public enterprises. Gbeleyi explained that the move is necessary to unlock the value of these assets and ensure they contribute more effectively to the national economy.

The BPE aims to sell part of the government's residual equity stakes in these companies, thereby strengthening corporate governance and allowing the public to participate in their ownership. This strategy is part of a broader effort to stimulate economic growth and attract private investment to key sectors.