The Federal Government has unveiled plans to privatise or concession at least 91 state-owned enterprises, including the Ajaokuta Steel Company, Tafawa Balewa Square (TBS), Lagos Trade Fair Complex (TFC), the nation’s four refineries, and five international airport terminals.
Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, disclosed this on Tuesday in Abuja, stressing that each transaction would follow a rigorous and transparent process, guided by technical, financial, and legal experts.
Gbeleyi explained that the value and terms of each transaction would be determined by advisers after detailed feasibility studies, noting that some transactions may require different structures depending on the sector. Using the stock exchange as an example, he highlighted the need for financial and technical analysis before establishing transaction ranges.
He cited previous successes in key sectors as evidence of the benefits of such reforms. In telecommunications, Nigeria now has 169.3 million subscribers and a broadband subscriber base of 104.1 million. Pension reforms have led to 10.79 million contributors with assets worth N24.63 trillion, while port reforms have attracted over $2.5 billion in investments and reduced cargo dwelling times. In aviation, ground handling companies like NAHCO and SAHCO have recorded substantial revenue growth.
Gbeleyi emphasised that the planned privatisation and concessioning aim to unlock value from state-owned enterprises, attract fresh investments, and boost efficiency across critical sectors, ensuring sustained economic growth and stability.
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