The Bureau of Public Enterprises (BPE) has unveiled plans to list two electricity distribution companies (DisCos) and one generation company (GenCo) on the Nigerian Exchange (NGX) as part of a wider strategy to raise ₦312.3 billion in 2025.
BPE Director-General, Mr. Ayodeji Gbeleyi, disclosed the plan at a media briefing in Abuja, explaining that the move is central to the agency’s reform and revenue objectives for the year. He noted that the listings would involve the sale of government-held equity, with 40% belonging to the Federal Government and 30% to state governments.
According to him, the share sales will be conducted through public offerings and Initial Public Offers (IPOs), with valuations determined through transparent book-building processes in line with global market practices. While Gbeleyi did not reveal the specific companies to be listed, he emphasized that the transaction is aimed at deepening public participation in the ownership of critical national infrastructure.
“We are opening a window for Nigerians to invest directly in power sector companies, which not only promotes inclusivity but also strengthens corporate governance and accountability in the electricity market,” he said.
The move comes as part of BPE’s broader mandate under the government’s Renewed Hope Agenda, which prioritises unlocking value from public assets, stimulating private sector investment, and generating jobs.
So far in 2025, the Bureau has raised ₦170.74 billion through completed transactions, including the concession of the Zungeru Hydropower Plant valued at ₦101.5 billion and the Afam III Fast Power project which contributed ₦53.92 billion.
BPE has carried out 243 transactions since inception, with 109 entities fully or partially privatized or commercialized. However, 91 enterprises—including refineries, airports, railways, and steel complexes—remain under government ownership.
Market analysts say the proposed listings could unlock more than ₦2 trillion in market value, citing comparable assets already trading on the NGX.
The announcement reflects the government’s efforts to improve efficiency and attract long-term investment in Nigeria’s struggling power sector, while also meeting ambitious fiscal targets without heavy borrowing.
