The Bureau of Public Enterprises (BPE) has revealed plans to list two electricity distribution companies (DisCos) and one generation company (GenCo) on the Nigerian Stock Exchange through Initial Public Offerings (IPOs).
BPE Director-General, Ayodeji Gbeleyi, disclosed this during a press briefing in Abuja on Tuesday. While declining to name the firms for confidentiality reasons, he confirmed that shareholder loan agreements had already been finalized for 10 of the 11 DisCos, with disbursements expected soon.
He also noted that the privatization of five GenCos remains suspended due to challenges posed by exchange rate volatility and limitations within the transmission network, which have restricted participation in the eligible customer scheme.
Gbeleyi further explained that the bureau is supporting the Federal Government’s energy sector agenda by accelerating key projects, including the Distribution Sector Recovery Programme (DISREP), Afam III Fast Power Project, and the Makurdi Hydropower Plant.
As part of its economic diversification drive, BPE is also working on commercialising strategic agencies such as the National Parks Service, Nigeria Film Corporation, Federal Mortgage Bank of Nigeria (FMBN), and Federal Housing Authority (FHA).
Additionally, plans are underway for the concession of five airports and the revitalisation of the Baro Inland Port in partnership with the Ministry of Marine and Blue Economy.
Despite progress, Gbeleyi highlighted obstacles such as limited PPP legal frameworks, resistance to reforms by some ministries and agencies, inadequate funding, and legacy litigations. He said the bureau is collaborating with the Ministry of Budget and Economic Planning to strengthen the pipeline of PPP projects.
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