The Bureau of Public Enterprises plans to privatize 91 companies and list select power firms for IPOs, while suspending some GenCo sales due to exchange rate volatility.
The Bureau of Public Enterprises (BPE) has announced plans to privatise 91 companies to boost performance, revenue, and job creation.
Director General Ayodeji A. Gbeleyi disclosed this on Tuesday at a media briefing in Abuja, revealing that two Electricity Distribution Companies (DisCos) and one Generation Company (GenCo) are set for Initial Public Offerings (IPOs) on the Nigerian Stock Exchange.
He explained that confidentiality prevented the agency from naming the firms, adding, “We are not in a position to disclose two out of the 11 DisCos… We are also unable to disclose the GenCo… to avoid causing anxiety.”
Gbeleyi said reforms in the power sector are ongoing, noting that four DisCos retained their core investors while seven were restructured. He confirmed that the privatization of five GenCos has been suspended due to exchange rate volatility, while metering in the industry has risen to 6.4 million installations.