BPE Moves to List Two DisCos and One GenCo on NGX, Eyes N312 Billion in 2025 Revenue

The Bureau of Public Enterprises (BPE) has announced plans to list two electricity distribution companies (DisCos) and one generation company (GenCo) on the Nigerian Exchange (NGX) as part of efforts to strengthen the nation’s power sector and attract fresh investment. The move aligns with the National Council on Privatisation’s (NCP) drive to increase private sector participation and support Nigeria’s ambition of building a $1 trillion economy by 2030.

BPE Director-General Ayodeji Gbeleyi, speaking in Abuja, confirmed that the Bureau has secured NCP approval for major transactions. These include the secondary sale of West Power Generation’s 60% stake in Eko Disco to the NSP Consortium, and the divestment of AMCON and lenders’ 60% stake in Ibadan Disco to Archlight Consortium. The listings are expected to inject capital into the power sector and improve operational efficiency.

On sector disputes, Gbeleyi said the Bureau is engaging with the Office of the Attorney General, Ministry of Justice, and other stakeholders to resolve longstanding issues, including cases involving the 850MW Sapele Power Plant. He noted that these efforts, combined with recent arbitration wins, have saved the Bureau billions in potential liabilities.

Since its inception, the BPE has completed 243 transactions across various sectors, including asset sales, concessions, and public offers. For 2025, the Bureau is targeting N312.3 billion in privatisation revenue across 15 projects, covering power, agriculture, energy, and infrastructure. Already, N170.74 billion has been generated from January to August, accounting for more than half of the year’s revenue goal. Key initiatives include the $500 million Distribution Sector Recovery Programme (DISREP) with the World Bank and the rollout of 2.5 million meters under the Presidential Metering Initiative (PMI).

Reflecting on his 14 months in office, Gbeleyi highlighted reforms that cleared N45 billion in financial deficits, strengthened institutional capacity, and improved transparency. He assured stakeholders that the Bureau remains committed to blocking revenue leakages, repositioning state-owned enterprises for profitability, and boosting investor confidence in Nigeria’s privatisation programme.

Source: Tribune