Federal Government Announces Plans to Sell Selected Public Assets in 2026
Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the federal government is preparing to initiate the sale of selected state-owned assets to private investors in 2026. The announcement was made during an interview on the sidelines of the AlUla Conference for Emerging Market Economies in Saudi Arabia, as reported by Bloomberg and The Cable.
Asset Selection and Transaction Timeline Under Review
According to Minister Edun, the government is currently in the process of determining which specific public assets will be offered for sale and establishing a clear timeline for these transactions. This strategic move forms part of the administration's broader economic repositioning efforts aimed at attracting long-term capital investment into the country.
"What we have put in place has made Nigeria very competitive in terms of the economic conditions and very attractive in terms of the incentives for investors," Edun stated during the conference. "I think investors are now more comfortable investing in Nigeria."
Improved Investment Climate Through Recent Reforms
The finance minister emphasized that recent economic reforms implemented by the President Bola Tinubu administration have significantly enhanced Nigeria's investment climate, making the country more competitive and appealing to both domestic and international investors. These reforms have been designed to restore policy credibility and strengthen macroeconomic stability, earning praise from international organizations including the International Monetary Fund (IMF).
Edun highlighted that the government is offering attractive incentives to investors, creating a more conducive environment for business growth and development. However, some economic experts have expressed concerns that these reforms have not yet translated into tangible improvements in the lives of ordinary Nigerians.
Public-Private Partnerships and Asset Optimization as Priorities
In addition to the planned asset sales, the federal government is prioritizing public-private partnerships (PPPs) and asset optimization as central components of its economic strategy. Edun previously stated on January 22 that Nigeria is pursuing job-rich and inclusive economic growth, with investment remaining crucial for improving productivity and expanding the economy.
The minister's remarks come amid ongoing efforts to reposition Nigeria's economy and attract sustainable investment. These initiatives align with broader government objectives to stimulate economic development through strategic partnerships and efficient resource management.
Related Developments in Nigeria's Investment Landscape
In a related development, President Bola Tinubu recently approved targeted incentives to support Shell's proposed Bonga South West deep-offshore oil project and similar offshore developments. Tinubu described the deep-offshore project as strategically important to Nigeria's economy, noting its potential to generate thousands of direct and indirect jobs, attract substantial foreign exchange inflows, and provide steady government revenue over its lifespan.
Shell's CEO, Wael Sawan, acknowledged that Nigeria's investment environment has improved significantly under the Tinubu administration, expressing increased confidence in the country's long-term investment prospects. The president has urged Shell to make investment decisions on these projects by 2027.
The federal government's asset sale initiative represents a significant step in its economic transformation agenda, combining privatization efforts with broader reforms to enhance Nigeria's global competitiveness and attract vital investment for sustainable development.
