The Federal Government of Nigeria, through the Bureau of Public Enterprises (BPE), has announced plans to sell or concession 91 federal assets, including high-profile properties like Ajaokuta Steel Company, Tafawa Balewa Square, and the Lagos International Trade Fair Complex.
This initiative, revealed by BPE Director-General Ayodeji Gbeleyi on September 2, 2025, in Abuja, aims to optimize underutilized assets to boost national revenue. In Rivers State, where economic activities are closely tied to federal infrastructure, such sales could impact local businesses and employment, particularly in sectors like trade and logistics.
The assets span various sectors, including aviation, power, and real estate, with notable inclusions like five international airport terminals and the National Integrated Power Projects (NIPPs) such as Omotosho, Olorunsogo, Calabar, Benin-Ihovbor, and Geregu. Gbeleyi emphasized a meticulous approach, with each transaction involving technical, financial, and legal advisers to ensure transparency and efficiency.
For instance, the sale of the NIPPs, valued at amounts like $85 million for Omotosho and $420 million for Benin-Ihovbor, is expected to enhance power sector efficiency while generating funds to address Nigeria’s fiscal challenges.
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The BPE’s strategy draws on past successes, such as the 2005–2006 port concessions, which attracted over $2.5 billion in investments and improved port operations through upgrades in cargo handling and technology. In Rivers State, where port activities are vital, such reforms could inspire similar modernization if local assets are included.
The Nigerian Aviation Handling Company (NAHCO) and Skyway Aviation Handling Company (SAHCO) also serve as examples, with their revenues rising significantly from N3.25 billion and N2.31 billion in 2006 and 2009, respectively, to N53.5 billion and N28.9 billion in 2024.
This move aligns with Nigeria’s broader economic goals, including reducing waste and funding budget deficits. However, challenges like political interference and valuation disputes, as seen in earlier attempts since 2016, may complicate the process. The BPE aims to ensure that new owners, particularly for the NIPPs, absorb existing workers to minimize job losses, a concern for communities in Rivers State and beyond.
