From Victor Osula, Abuja
The Federal Government plans to sell a portion of its shares in two electricity distribution companies (DisCos) and a generation company (GenCo) by listing them on the Nigerian Exchange (NGX).
This move is part of a broader strategy to unlock value from state-owned enterprises and boost efficiency in the power sector.
Ayodeji Gbeleyi, Director-General of the Bureau of Public Enterprises (BPE), announced the plan to reporters in Abuja, stating the listings will be done through Initial Public Offerings (IPOs).
According to Gbeleyi, the federal and state governments currently hold 40% equity in the DisCos and 30% in the GenCo.
He explained that offering these shares to the public will allow Nigerians to participate in the ownership of critical power infrastructure while improving corporate governance and transparency.
“We are currently working on this,” Gbeleyi said, noting that the power sector is a good candidate for an IPO.
He did not disclose the names of the specific companies targeted for the IPOs due to “transaction confidentiality.”
This measure, he said, is to prevent “anxiety or apprehension” among staff, companies, and the public.
Gbeleyi also revealed that the BPE is working on the commercialization of other key agencies, including the Federal Mortgage Bank of Nigeria (FMBN), the Federal Housing Authority (FHA), the Nigeria Film Corporation, and the National Parks Service.
Additionally, plans for the concession of five airports and the Baro Inland Port are underway.
