FG Plans IPOs for Power Companies on NGX

The Federal Government of Nigeria plans to list two electricity distribution companies (DisCos) and one generation company (GenCo) on the Nigerian Exchange (NGX) by September 3. This move aims to enhance efficiency in the power sector and allow Nigerians to participate in the ownership of critical power infrastructure.

Ayodeji Gbeleyi from the Bureau of Public Enterprises (BPE) disclosed that the government currently holds 40% equity in DisCos and 30% in GenCo. The listing will be through Initial Public Offerings (IPOs) to promote transparency and corporate governance.

Additionally, BPE is working on commercializing key agencies like the Federal Mortgage Bank of Nigeria and the Nigeria Film Corporation. Specific companies targeted for IPOs have not been disclosed to prevent speculation and anxiety among staff and the public.