The Federal Government has announced plans to begin selling some state-owned assets to private investors from 2026 as part of efforts to strengthen the economy and attract fresh investment.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this in an interview with Bloomberg on the sidelines of the AlUla Conference for Emerging Market Economies in Saudi Arabia.
According to Edun, the government is currently identifying which public assets will be offered for sale and outlining a timeline for the transactions.
“The plan is to offer some assets in 2026,” he said, explaining that the initiative is aimed at attracting private sector capital and improving the performance of government-owned enterprises.
Edun added that recent economic reforms have made Nigeria more competitive and appealing 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 to invest in Nigeria,” he stated.
Beyond outright sales, the government is also exploring public-private partnerships (PPPs), which would enable investors to inject funds, expertise, and operational efficiency into underperforming assets.
“We are interested in public-private partnerships, optimisation of our assets by having others come in and invest,” Edun said.
The proposed asset sales are part of broader economic reforms aimed at restoring investor confidence, improving fiscal discipline, and strengthening public finances. Edun has previously emphasized that Nigeria is pursuing job-rich and inclusive growth, with investment seen as critical to boosting productivity and employment.
Sources at the Presidency indicated that assets under review could include industrial and manufacturing facilities, energy infrastructure such as refineries, real estate holdings, and equity stakes in certain companies. One source noted that the government intends to dispose of assets “that are not doing well but have the potential to attract reasonable amounts running into billions of dollars.”
Minister of Budget and Economic Planning, Abubakar Bagudu, also addressed the issue during an appearance on ARISE Television’s Morning Show, arguing that the government currently holds too many assets that are no longer generating value.
“Government has held too many assets that are not generating value for Nigerians, and there are opportunities for investors to come in so those assets can contribute to national prosperity,” Bagudu said.
Using the oil sector as an example, Bagudu noted that although Nigeria has the capacity to produce about three million barrels of crude oil per day, it is currently producing less than 1.5 million barrels. He also pointed out that while the country has an estimated 210 trillion cubic feet of gas reserves, less than seven per cent is being utilised.
He further referenced concerns about the performance of government-owned refineries, citing the Nigerian National Petroleum Company (NNPC)’s admission that despite spending approximately $1.5 billion on rehabilitation, the refineries are not operating profitably.
“So why hold on to assets that are not delivering value? Bringing in investors can help put them to better use,” Bagudu said.
Economic analysts have long argued that well-managed asset sales or concessions can help raise funds, reduce the burden of maintaining underperforming enterprises, and free up resources for priority sectors such as health, education, and infrastructure. However, they also emphasize the need for transparency and accountability to ensure that public interest is protected.
