Manny Ita
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has announced that the Federal Government of Nigeria is set to begin the sale and commercialization of 91 public assets starting in 2026. Speaking on the sidelines of the AlUla Conference for Emerging Market Economies in Saudi Arabia on Monday, February 9, 2026, the Minister detailed that the move is a central component of President Bola Tinubu’s broader economic reform agenda aimed at attracting private capital and narrowing the nation’s fiscal deficit. The identified portfolio includes high-value holdings across strategic sectors, with 16 entities in oil and gas—including refineries and depots—as well as 20 in aviation, 12 in agriculture, and several others in the power and manufacturing sectors.
The Bureau of Public Enterprises (BPE) has finalized the categorization of these assets, revealing that 35 firms are slated for full privatization while 57 will undergo partial privatization to maintain a level of state participation. According to the Minister, the recent structural reforms, including foreign exchange liberalization and the removal of fuel subsidies, have created a more stable environment for these divestments. “What we have put in place has made Nigeria very competitive in terms of the economic conditions and very attractive in terms of the incentives for investors,” Edun stated during an interview with Bloomberg. He further emphasized that the government is focused on “optimisation of our assets by having others come in and invest,” noting that investors are now demonstrating a higher level of comfort with the Nigerian market.
The government expects to raise approximately ₦189 billion from the initial phase of these sales in 2026 to help bridge a projected ₦25 trillion budget deficit. While the specific names of the power plants and oil infrastructure to be sold remain confidential to prevent market anxiety, the BPE confirmed that two electricity distribution companies (DisCos) and one generation company (GenCo) are already being prepared for Initial Public Offerings (IPOs) on the Nigerian Exchange. “The plan is to offer some assets in 2026,” Edun reiterated, adding that the transition from economic stabilization to consolidation requires deep private sector participation to ensure long-term, inclusive growth.
