Financial experts have supported the Federal Government’s plan to privatise 91 state-owned assets across the country.
They described it as a step that would boost revenues, attract investment, and strengthen economic growth.
The fexperts spoke in separate interviews with the News Agency of Nigeria (NAN) in Lagos on Tuesday.
Prof. Ken Ife, President of the Institute of Professional Economists and Policy Management (IPEPM), said the initiative would enhance liquidity and expand production capacity in the economy.
“Privatisation will allow for securitisation of national assets and increased revenue earnings for the country.
“Government should not be directly involved in managing businesses, as experience has shown this is rarely profitable,” Ife said.
He cited the Nigerian National Petroleum Company (NNPC) as an example, noting that in spite of its vast potential, the corporation had failed to meet Nigerians’ expectations because it is wholly government-owned.
Ife also highlighted Nigeria’s entrepreneurial potential, pointing out that the country is home to about 42 million Small and Medium Enterprises (SMEs).
“Out of 90 million entrepreneurs in Africa, 48 per cent are Nigerians, contributing significantly to the continent’s GDP.
“This is why government must continue to improve the business environment to enable entrepreneurs to grow and create jobs,” he said.
Dr Ayo Teriba, Chief Executive Officer of Economic Associates, described the policy as long overdue, noting he had advocated for it since the administration of former President Goodluck Jonathan.
“Government should take these assets to the market to establish their true value.
“Listing them on the stock exchange would provide a sustainable solution to the country’s financial challenges,” Teriba said.
He added that Nigeria could learn from Saudi Arabia, which raised funds by listing its state-owned oil company while still retaining significant ownership.
Also speaking, Mr Moses Igbrude, National Coordinator of the Independent Shareholders Association of Nigeria (ISAN), commended the government but urged caution.
“National assets should not be handed over to companies without technical expertise or financial strength.
“Regulators must also ensure that successful bidders list these firms on the Nigerian Exchange to promote transparency and accountability,” Igbrude said.
NAN reports that the Director-General of the Bureau of Public Enterprises, Mr Ayodeji Gbeleyi, recently disclosed that 91 federal assets would be privatised.
This, he said, was part of ongoing efforts to optimise public enterprises, attract investments, and improve efficiency in key sectors of the economy.
According to him, the exercise will be carefully executed, sector by sector, to safeguard national interests.
