Federal Government To Begin Sale Of State-owned Assets

The federal government is set to begin the sale of state-owned assets.

NewsRain Nigeria reports that the Federal Government has announced plans to begin the sale of selected state-owned assets to private investors in 2026 as part of ongoing efforts to deepen economic reforms, attract fresh capital, and improve efficiency in public enterprises.

The disclosure was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during an interview on the sidelines of the AlUla Conference for Emerging Market Economies held in Saudi Arabia.

Edun said the government is currently reviewing its portfolio of public assets to determine which entities will be offered for sale, as well as the timeline and structure for their disposal.

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According to him, the planned divestments align with the Tinubu administration’s broader strategy to optimise government-owned assets, strengthen investor confidence, and reposition Nigeria as a more competitive destination for private investment.

“The plan is to offer some assets in 2026,” Edun said.

He noted that preparatory work is already underway to ensure that the process is transparent, credible, 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 investing in Nigeria,” he added.

Edun explained that the government is prioritising public-private partnerships as a key pathway to unlock value in national assets, reduce fiscal pressure on the state, and stimulate job creation.

“We are interested in public-private partnerships and the optimisation of our assets by having others come in and invest,” he said.

The planned asset sales are anchored on a series of reforms introduced by President Bola Ahmed Tinubu since taking office in May 2023, including the removal of petrol subsidies, liberalisation of the foreign exchange market, and broad-based tax reforms aimed at improving revenue mobilisation and narrowing fiscal deficits.

Edun said the reforms are beginning to yield results, citing moderating inflationary pressures, improved government revenues, and relative stability in the naira as signs of strengthening macroeconomic fundamentals.

Beyond asset sales, the minister disclosed that the Federal Government is intensifying efforts to unlock value in Nigeria’s energy sector through private investment partnerships, including discussions with foreign investors to revive state-owned refineries.

Recent talks, officials say, include options for investors to acquire equity stakes in the refineries, many of which have remained largely non-functional for decades despite repeated turnaround maintenance expenditures.