The Federal Government has reaffirmed its commitment to unlocking the value of national assets and attracting global capital as part of efforts to strengthen Nigeria’s long-term economic growth strategy.
This was the focus of discussions at the first 2026 meeting of the National Council on Privatisation held at the Presidential Villa, Abuja, where Vice President Kashim Shettima called for a more aggressive expansion of public-private partnerships (PPPs).
Shettima said Nigeria’s ambition of building a trillion-dollar economy would only be achievable through deliberate collaboration between government and the private sector, backed by strong institutions and consistent policies.
“The task before us is not only to ensure that Nigeria emerges as a safe destination for private investment, but to align that investment with the governing purpose of this administration and the larger destiny of our nation,” he said.
He stressed that economic prosperity does not occur by chance but must be deliberately designed and sustained through effective governance and institutional discipline.
According to him, national assets must be deployed in a way that directly supports citizens and drives long-term development.
Reviewing recent progress, the Vice President highlighted developments across key sectors such as mining, agriculture, and energy. He particularly pointed to the sale of Eko Electricity Distribution Company as evidence of renewed investor confidence in Nigeria’s privatisation programme.
Shettima attributed growing investor interest to ongoing reforms, noting that credibility and policy consistency remain critical factors in attracting capital inflows.
“Investors do not respond to rhetoric alone. They respond to coherence, to clarity, and to the evidence that a country knows where it is going and has the courage to stay the course,” he said.
He also urged the council to fast-track the development of bankable projects and expand the use of PPPs as a central driver of infrastructure and economic expansion.
The Vice President warned that policy inconsistencies and overlapping institutional mandates could undermine investor confidence if not addressed.
“Policy confusion is expensive. Overlapping mandates unsettle the market. If we are to speak convincingly to investors, government must speak with one voice,” he added.
The Director General of the Bureau of Public Enterprises, Ayodeji Ariyo Gbeleyi, briefed the council on progress in the power sector recovery programme funded by the World Bank.
He said the $500m programme is focused on improving electricity distribution and closing Nigeria’s metering gap, estimated at about 5.6 million customers.
According to him, contracts have been signed for the procurement of 1.437 million prepaid meters, with nearly 400,000 already installed across the country’s 11 electricity distribution companies.
Gbeleyi said the initiative aims to reduce estimated billing and improve electricity supply reliability nationwide.
He also noted that the bureau has prioritised institutional reforms, including bringing its audited financial statements up to date in line with global standards and statutory requirements.
In another development, the council approved N157m for the payment of repatriation allowances owed to 830 former workers of NICON, outstanding for nearly two decades.
It also approved the lease of four coal blocks to a special purpose vehicle owned by the Enugu State Government, subject to obtaining the necessary mining licences.
Officials say the reforms form part of a broader strategy to reposition Nigeria’s economy, optimise underutilised assets, and accelerate the country’s transition toward a more investment-driven growth model.
