FG To List Power Firms On Nigerian Exchange – BPE

The Bureau of Public Enterprises (BPE) has concluded plans to list two electricity Distribution Companies (DisCos) and one Generation Company (GenCo) on the Nigerian Exchange (NGX) through an Initial Public Offering (IPO).

BPE Director-General, Ayodeji Gbeleyi, disclosed this in a statement, explaining that the initiative forms part of the federal government’s strategy to deepen private sector participation in the power sector and attract long-term investments to boost efficiency and service delivery.

He noted that the federal government holds 40 per cent equity in the DisCos, with its shares recently transferred to the Ministry of Finance Incorporated (MOFI).

Nigeria has 11 DisCos, including Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt and Yola, most of which are weighed down by huge debts owed to the government.

Gbeleyi, however, declined to disclose the specific firms to be listed, citing corporate confidentiality.