• BPE affirms investment to bridge power metering gap
The Federal Government has reaffirmed its commitment to unlocking the full value of national assets and attracting global capital, as Vice President Kashim Shettima called for an aggressive expansion of public-private partnerships (PPPs) to drive Nigeria’s economic ambitions.
 
Speaking yesterday at the first 2026 meeting of the National Council on Privatisation (NCP) held at the Presidential Villa, Abuja, the Vice President said the administration is focused on attracting investment that is strategically aligned with national development priorities.
 
“The task before us is not only to ensure that Nigeria emerges as a safe destination for private investment, but to align that investment with the governing purpose of this administration and the larger destiny of our nation,” he said.
 
Shettima stressed that Nigeria’s aspiration to become a trillion-dollar economy would remain unattainable without a deliberate balance between public enterprise and private sector dynamism, noting that sustainable prosperity must be built on strong institutions.
 
“Prosperity does not happen by accident. It is designed, negotiated, protected, and sustained by institutions that understand that national assets must be deployed in the service of the people,” he added.
 
Reviewing progress over the past year, the Vice President highlighted milestones across key sectors, including mining, agriculture, and energy, and cited the sale of Eko Electricity Distribution Company as a clear signal of renewed investor confidence.
 
He attributed growing investor interest to the administration’s policy direction and reform agenda, emphasising that credibility, consistency, and clarity remain critical drivers of capital inflows.
 
“Investors do not respond to rhetoric alone. They respond to coherence, clarity, and the evidence that a country knows where it is going and has the courage to stay the course,” he said.
 
Shettima also commended improvements in the privatisation framework, particularly enhanced governance processes and timely audit reporting, describing institutional discipline as essential to building trust.
 
He charged the Council to accelerate the development of a robust pipeline of bankable projects and deepen the use of PPPs as a central tool for economic expansion.
 
“We must fast-track the pipeline of bankable projects and scale up PPP transactions to meet our economic targets,” he said.
 
The Vice President further underscored the need for strict post-privatisation oversight to ensure that privatised assets meet contractual obligations and contribute meaningfully to national development.
 
He warned against policy inconsistencies within government institutions, noting that overlapping mandates and unclear roles could erode investor confidence and stall reform progress.

Providing insights into deliberations at the meeting, Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, said the Council was updated on progress under the power distribution sector recovery programme, supported by the World Bank with $500 million in funding.
 
He disclosed that a key component of the programme involves procuring about 3.22 million prepaid meters to address Nigeria’s estimated 5.6 million metering gap.