The federal government, on Monday, February 9, announced plans to commence the sale of selected state-owned assets to private investors in 2026 as part of efforts to deepen economic reforms and attract new capital into Nigeria.
This was disclosed by the minister of finance and coordinating minister of the economy, Wale Edun, during an interview held on the sidelines of the AlUla Conference for Emerging Market Economies in Saudi Arabia.
Edun said the government is currently assessing its portfolio of public assets to identify those suitable for sale, as well as determining the timeline and structure for the divestment process.
The planned sales are part of the Tinubu administration’s wider strategy to optimise government assets, improve operational efficiency, and make Nigeria a more attractive destination for private capital.
Officials said transparency and value creation will be prioritised to build investor confidence ahead of the exercise.
Speaking further, Edun noted that groundwork is already ongoing to ensure the process is credible and appealing to investors.
He said, “The plan is to offer some assets in 2026.
“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.
“We are interested in public-private partnerships and the optimisation of our assets by having others come in and invest.”
He added that the government aims to use private capital to drive economic growth, create jobs, and expand infrastructure across key sectors.
The proposed asset sales are built on a series of reforms introduced by president Bola Ahmed Tinubu since taking office in May 2023.
These include the removal of petrol subsidies, liberalisation of the foreign exchange market, and the introduction of tax reforms to boost revenue and reduce fiscal deficits.
According to Edun, these reforms are already producing results, such as easing inflation pressures, improving government revenues, and stabilising the naira, thereby strengthening Nigeria’s overall economic outlook.
Beyond asset sales, the government is also seeking to unlock value in the energy sector through partnerships with private investors.
This includes ongoing discussions with a Chinese firm and other investors to operate state-owned refineries, with options for equity participation.
Many of these refineries have remained largely inactive for years despite heavy investment in maintenance.
Edun emphasised that Public-Private Partnerships (PPP) will remain central to the administration’s reform agenda, as the government works to reduce its financial burden while improving efficiency in managing public assets.
In 2013, the federal government privatised most power generation and distribution companies, while the state-owned telecom firm, Nitel, was privatised in 2015 after years of operational difficulties.
Meanwhile, the International Monetary Fund (IMF) projects that Nigeria’s economy will grow by 4.4 per cent in 2026, compared to an estimated 4.2 per cent in 2025.
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