The Bureau of Public Enterprises (BPE) has announced plans to list two electricity distribution companies (DisCos) and one generation company (GenCo) on the Nigerian Stock Exchange through an Initial Public Offer (IPO).
Director-General Ayodeji Gbeleyi disclosed this during a media briefing in Abuja on Tuesday. He declined to reveal the names of the companies, citing corporate confidentiality.
Gbeleyi also confirmed that shareholder loan agreements have been signed for 10 of the 11 DisCos, with disbursements expected to commence shortly.
Addressing questions on the stalled privatisation of five GenCos, he explained that the process remains on hold due to exchange rate volatility and other economic factors. He added that the GenCos have yet to fully adopt the Eligible Customer Regulation because of persistent transmission constraints.
The BPE chief stressed that the agency is open to policy recommendations aimed at curbing financial leakages in Nigeria’s state-owned refineries. He noted that discussions on refinery reforms have moved past the question of whether they should be privatised, signalling that more decisive policy shifts may be ahead.