Nigeria’s Vice President, Kashim Shettima, has called for an aggressive expansion of public-private partnerships (PPPs) as part of efforts to accelerate the country’s economic growth and attract global investment.
Speaking at the first 2026 meeting of the National Council on Privatisation (NCP) held at the Presidential Villa in Abuja, Shettima said the Federal Government remains committed to unlocking the full value of national assets and aligning investments with its broader development agenda.
He stressed that Nigeria’s ambition of becoming a trillion-dollar economy would require a strategic balance between public sector initiatives and private sector participation.
“Prosperity does not happen by accident. It must be deliberately designed, supported by strong institutions, and aligned with national priorities,” the Vice President said.
Shettima highlighted progress recorded across key sectors, including mining, agriculture, and energy, citing the recent sale of Eko Electricity Distribution Company as evidence of renewed investor confidence.
He noted that policy clarity, consistency, and institutional discipline are essential to sustaining investor interest, warning that conflicting policies and overlapping government mandates could undermine reforms.
“Investors respond to clarity and consistency. Government must speak with one voice to maintain credibility,” he added.
The Vice President also tasked the council with building a strong pipeline of bankable projects and strengthening post-privatisation monitoring to ensure assets deliver expected value to the economy.
Meanwhile, Director-General of the Bureau of Public Enterprises, Ayodeji Gbeleyi, disclosed that efforts are ongoing to address Nigeria’s metering gap through a $500 million World Bank-backed distribution sector recovery programme.
According to him, about 3.22 million prepaid meters are being procured to bridge the estimated 5.6 million metering deficit, with over 1.4 million already contracted and nearly 400,000 installed across the country’s electricity distribution companies.
He said the initiative is aimed at improving power supply and eliminating estimated billing.
Gbeleyi also revealed that the council approved N157 million as outstanding repatriation allowances for 830 former staff of NICON, as well as the lease of four coal blocks to a special purpose vehicle owned by the Enugu State Government, subject to regulatory approvals.
He added that the bureau has updated its audited financial statements in line with global standards, reinforcing transparency and accountability in the privatisation process.
The Federal Government says the reforms are part of broader efforts under the administration of Bola Ahmed Tinubu to reposition the economy and achieve sustainable long-term growth.
