Kashim Shettima, Vice President of Nigeria, has called for an aggressive expansion of public-private partnerships to support the country's goal of achieving a $1 trillion economy. Speaking at the 2026 meeting of the National Council on Privatisation in Abuja, Shettima stressed that economic growth must be driven by strategic alignment between public enterprises and private sector investment. He identified policy inconsistency and overlapping mandates as threats to investor confidence and economic stability. Shettima also urged relevant agencies to end estimated electricity billing, a practice that has generated widespread dissatisfaction among consumers.
The Bureau of Public Enterprise (BPE) director-general, Ayodele Gbeleyi, reported that 1,437,000 electricity meters have been procured under the $500 million Distribution Sector Recovery Programme funded by the World Bank. The initiative aims to close a national metering gap of 5.6 million, with nearly 400,000 meters already installed across 11 electricity distribution companies. Gbeleyi confirmed that the BPE presented its audited financial statements for 2025, aligning with international standards. The NCP also approved N157 million in outstanding repatriation allowances for 830 former NICON staff, some of whom had waited up to 20 years for payment. Additionally, four coal blocks were leased to a special purpose vehicle linked to the Enugu State Government, pending mining licences from the Mining Cadastre Office. Shettima cited the sale of Eko Electricity Distribution Company as evidence of renewed investor interest.
💡 NaijaBuzz is an AI-assisted news aggregator. This content is curated from third-party sources — NaijaBuzz is not the original publisher and is not responsible for the accuracy of source reporting. The NaijaBuzz Take is AI-assisted editorial opinion only, not established fact. All persons mentioned are presumed innocent until proven guilty by a court of competent jurisdiction. NaijaBuzz does not endorse the views expressed in source articles.
