The Bureau of Public Enterprises (BPE)has said the planned privatisation of five GenCos was on hold due to exchange rate volatility and transmission limitations, which had encumbered their participation in the eligible customer regime.
At a press conference in Abuja on Tuesday, BPE Director-General, Mr Ayodeji Gbeleyi, also disclosed plans to list two electricity Distribution Companies (DisCos) and one Generation Company (GenCo) on the Nigerian Stock Exchange through an Initial Public Offering (IPO).
According to him, shareholder loan agreements had been executed for 10 of the 11 DisCos, while disbursements is being expected soon.
He expressed the Bureau’s intent to support policies aimed at halting financial leakages on the nation’s refineries.
He said BPE was expediting work on key energy-related projects, including the Distribution Sector Recovery Programme (DISREP), Afam III Fast Power, Makurdi Hydropower Plant, and reforms in the mining sector, as part of the country’s Renewed Hope Agenda.
He added:“The bureau is also working on broader economic diversification through partial or full commercialisation of key agencies such as the National Parks Service, Nigeria Film Corporation, Federal Mortgage Bank of Nigeria (FMBN), and the Federal Housing Authority (FHA).”
He revealed that the BPE was working with the Ministry of Budget and Economic Planning and other stakeholders to build a strong pipeline of catalytic PPP projects.