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President Bola Ahmed Tinubu is considering selling national assets and government-owned companies in order to generate revenue.
Among the 20 companies that may be sold is the Nigerian National Petroleum Company Limited (NNPCL).
The plan involves selling at least 20% of the federal government’s shares in these entities to strategic investors.
The Ministry of Finance Incorporated is exploring options such as strategic sales and initial public offerings, with the goal of implementing the plan within 18 months.
The government’s primary consideration is to create value rather than retain control, as it believes it is better to own a smaller percentage of a high-performing entity than a larger percentage of an underperforming one.
List of companies up for sale
Tafawa Balewa Square
- National Integrated Power Projects (NIPP) in various locations:
- Olorunsogo plant Calabar II plant Benin (located at Ihorbor) plant
- Omotosho II plant Geregu II plant
Hydropower plants across the country:
- Oyan plant
- Lower Usuma plant
- Katsina-Ala plant
Giri plant
- Calabar and Kano free trade zones
- Abuja Water Board
- Aluminium Smelter Company of Nigeria
- National Film Corporation
- National Theatre
- Lagos International Trade Fair
- Nigerian National Petroleum Corporation (NNPC)
- Federal Government-owned hotels and landed properties
- Government ministries, like the postal service
