FG Targets Investment Surge, PPP Expansion to Unlock National Assets — Shettima
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 on Thursday during the first 2026 meeting of the National Council on Privatisation (NCP) at the Presidential Villa in Abuja, the Vice President said the administration is focused on attracting investment while ensuring such capital aligns 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 noted that Nigeria’s ambition of becoming a trillion-dollar economy would remain unattainable without a deliberate balance between public enterprise and private sector dynamism, stressing that economic prosperity must be intentionally designed and sustained through 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 made over the past year, the Vice President highlighted milestones across sectors including mining, agriculture, and energy, citing the sale of Eko Electricity Distribution Company (Eko DISCO) as a key indicator of renewed investor confidence.
He attributed growing investor interest to the administration’s reform agenda, emphasizing 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 reports, describing institutional discipline as vital for building investor trust.
He urged the Council to accelerate the development of a strong pipeline of bankable projects and deepen PPP transactions to support economic growth targets, while also stressing the need for effective post-privatisation monitoring to ensure assets deliver on their mandates.
Warning against policy inconsistencies, the Vice President noted that overlapping mandates and unclear institutional roles could undermine investor confidence.
“Policy confusion is expensive. Overlapping mandates unsettle the market. If we are to speak convincingly to investors, government must speak with one voice,” he said.
Providing further insight, the Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, briefed the Council on progress under the distribution sector recovery programme, supported by the World Bank with $500 million funding.
He disclosed that the programme includes the procurement of about 3.22 million prepaid meters to address Nigeria’s metering gap, currently estimated at 5.6 million.
“As of today, we have signed a contract for 1,437,000 meters already deployed in the country, with nearly 400,000 installed across the 11 DISCOs,” he said, adding that the initiative aims to improve power supply and eliminate estimated billing.
Gbeleyi further revealed that the Council approved ₦157 million for 830 former staff of NICON as outstanding repatriation allowances, while also endorsing the lease of four coal blocks to a special purpose vehicle of the Enugu State Government, subject to regulatory approvals.
He noted that the Bureau has also brought its audited financial statements up to date, in line with global best practices and statutory requirements.
The developments, he said, are part of broader efforts to reposition Nigeria’s economy toward achieving a $1 trillion Gross Domestic Product in the near term.
FG Targets Investment Surge, PPP Expansion to Unlock National Assets — Shettima