The Bureau of Public Enterprises (BPE) has announced plans to privatize 91 firms, a move aimed at boosting efficiency, revenue generation, and job creation.
BPE Director-General, Ayodeji Gbeleyi, disclosed this in Abuja, noting that the reform is designed to unlock private sector investment and stimulate employment opportunities across multiple sectors. He added that the power sector would play a major role, with two electricity distribution companies (DisCos) and one generation company (GenCo) listed for an Initial Public Offer (IPO) on the Nigerian Stock Exchange.
According to him, the initiative will also support ongoing system improvements, metering expansion, and asset rehabilitation, ultimately creating new jobs and strengthening service delivery. He stressed that the reforms are expected to create a ripple effect across industries, especially as privatized firms are better positioned to expand operations, attract funding, and hire more workers.
Gbeleyi noted that job creation is one of the biggest drivers of the privatization exercise. “The essence of this reform is not just to raise revenue, but to unlock the potential of these enterprises so they can employ more Nigerians, especially the youth. Every new investment in these companies means new technical, managerial, and operational jobs across the country,” he said.
Analysts say the privatization of 91 firms could significantly boost Nigeria’s employment landscape. With millions of young Nigerians entering the labour market annually, the shift to private-sector-led management is expected to generate jobs in power, manufacturing, logistics, agriculture, and services linked to these enterprises. The move could also spur small and medium enterprises that provide ancillary services to the newly privatised firms.
The DG further explained that the agency has intensified oversight of DisCos and GenCos, ensuring transparency and efficiency in line with global best practices. He said the disbursement of $250 million in shareholders’ loans to the 11 DisCos for infrastructure improvements would also generate fresh employment opportunities in technical, managerial, and support roles.
He added that the success of this round of privatisation could set the pace for further reforms in Nigeria’s economy, creating an enabling environment where businesses thrive and Nigerians can secure sustainable livelihoods.
