The Bureau of Public Enterprises (BPE) has announced plans to list two electricity Distribution Companies (DisCos) and one Generation Company (GenCo) on the Nigerian Stock Exchange through an Initial Public Offering (IPO).
BPE Director-General, Mr Ayodeji Gbeleyi, disclosed this on Tuesday in Abuja during a media briefing.
He declined to name the companies for confidentiality reasons.
Gbeleyi revealed that shareholder loan agreements had been executed for 10 of the 11 DisCos, with disbursements expected soon.
He also said the planned privatisation of five GenCos was on hold due to exchange rate volatility and transmission limitations, which had hindered their participation in the eligible customer regime.
On national refineries, Gbeleyi expressed BPE’s willingness to support policies aimed at halting financial leakages.
As part of the Renewed Hope Agenda, Gbeleyi said BPE was fast-tracking key energy-related projects, including the Distribution Sector Recovery Programme (DISREP), Afam III Fast Power, Makurdi Hydropower Plant, and reforms in the mining sector.
“The bureau is also working on broader economic diversification through partial or full commercialisation of key agencies such as the National Parks Service, Nigeria Film Corporation, Federal Mortgage Bank of Nigeria (FMBN), and the Federal Housing Authority (FHA).”
However, Gbeleyi noted several challenges affecting the bureau’s performance, including: lack of a clear and predictable legal framework for Public-Private Partnerships (PPP), resistance to reforms by some MDAs, inadequate funding, and legacy transaction-related litigation
He said BPE was working with the Ministry of Budget and Economic Planning and other stakeholders to build a strong pipeline of catalytic PPP projectsnan.
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