By Tony Obiechina Abuja
The Bureau of Public Enterprises has unveiled plans to list two electricity Distribution Companies and one Generation Company on the Nigerian Stock Exchange through an Initial Public Offering.
The Director-General of BPE, Ayodeji Gbeleyi, disclosed this during his maiden press briefing in Abuja on Tuesday.
According to him, the move is part of the federal government’s broader strategy to deepen private sector participation in the power sector and attract long-term investment that would boost efficiency and service delivery.
Gbeleyi, however, declined to reveal the identities of the companies set to be listed, stressing that such information was bound by corporate confidentiality.
He further revealed that shareholders’ loan agreements had recently been signed for 10 out of the 11 DisCos, a development he described as critical to stabilizing the operations of the firms.
He said the disbursement of the loans would commence in the coming weeks.
Speaking on the delayed privatization of five GenCos, the BPE boss said the process was being slowed by exchange rate volatility, rising inflation, and other macroeconomic uncertainties.
He added that the GenCos were yet to fully adopt the eligible customer regulation due to persistent transmission bottlenecks, which continue to hinder power evacuation and distribution.
On the status of Nigeria’s ailing refineries, Gbeleyi emphasized that the Bureau would align with any government policy or expert advice aimed at reducing financial leakages and curbing recurrent losses.
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He said, “The debate has gone beyond whether to privatize the refinery,” adding that conversations should now focus on how best to reposition the facilities to deliver value to Nigerians and stop the drain on public resources.
