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.
Plus234Feed summary based on reporting from The Will. Read the original report below.
Read full article
Continue on The Will
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
BPE Plans IPOs for 2 DisCos and 1 GenCo on Stock Exchange
Nigerian Government Plans Privatization of 91 Public Enterprises for Economic Growth
Emerging Power Dynamics in Lagos’ Electricity Market
NBET Exposes Massive Debts as Eko, Abuja, 9 Other DisCos Owe FG N2.6 Trillion
FG and GenCos Seal Deal to Clear N4 Trillion Power Sector Debts
Nigerian Government to Privatize 91 Assets, Including Refineries and Airports
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
