As part of a larger effort to boost the economy and draw in new investment, the federal government has declared plans to start selling some state-owned assets to private investors in 2026.
This was revealed by Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, in a Bloomberg interview conducted on the fringes of the AlUla Conference for Emerging Market Economies in Saudi Arabia.
The government is now deciding which public assets will be offered and when the deals will take place, Edun said. He stated, “The plan is to offer some assets in 2026,” adding that the initiative’s goals are to boost government-owned businesses’ performance and attract private sector investment.
He added that recent economic reforms have made Nigeria more competitive and attractive to investors. “What we have put in place has made Nigeria very competitive in terms of the economic conditions and very attractive in terms of the incentives for investors. I think investors are now more comfortable to invest in Nigeria,” Edun said.
Beyond outright sales, the government is also considering public-private partnerships, which would allow investors to inject funds, expertise and efficiency into underperforming assets. “We are interested in private public partnerships, optimisation of our assets by having others come in and invest,” he said.
The proposed sales come amid ongoing economic reforms aimed at restoring investor confidence, improving fiscal discipline and strengthening public finances. Edun had previously stated that Nigeria is pursuing job-rich and inclusive growth, with investment seen as key to boosting productivity and employment.
Sources at the Presidency indicated that assets under review may include industrial and manufacturing facilities, energy infrastructure such as refineries, real estate holdings and equity stakes in certain companies. According to one source, the government intends to dispose of assets “that are not doing well but have the potential to attract reasonable amounts running into billions of dollars.”
The Minister of Budget and Economic Planning, Abubakar Bagudu, also spoke on the issue during an appearance on ARISE Television’s Morning Show. He said the government holds too many assets that are no longer delivering value to citizens.
“Government has held too many assets that are not generating value for Nigerians, and there are opportunities for investors to come in so those assets can contribute to national prosperity,” Bagudu said.
Using the oil sector as an example, he noted that Nigeria has the capacity to produce about three million barrels of crude oil per day but is currently producing less than 1.5 million barrels. He also highlighted that although Nigeria has an estimated 210 trillion cubic feet of gas, less than seven per cent is being utilised.
