Kashim Shettima, the Vice President on Thursday, called for an aggressive expansion of public-private partnerships (PPPs) to drive Nigeria’s economic ambitions, as the federal government reaffirms its commitment to unlocking the value of national assets.

Speaking during the first 2026 meeting of the National Council on Privatisation (NCP) at the Presidential Villa, Abuja, the Vice President said the administration is focused on attracting investment and ensuring such capital is strategically aligned with national development priorities.

Ending estimated electricity billing

Senior Special Assistant on Media and Communications,

Office of the Vice President, Stanley Nkwocha, said in a statement that Shettima also charged relevant agencies to end estimated billing, which has caused significant disaffection among electricity consumers.

The Vice President stressed that Nigeria’s long-standing ambition of becoming a trillion-dollar economy would remain out of reach without a deliberate balance between public enterprise and private sector dynamism. He noted that economic prosperity must be intentionally designed and sustained through strong institutions.

Reviewing progress over the past year, the Vice President highlighted key milestones in mining, agriculture, and energy. He specifically pointed to the sale of Eko Electricity Distribution Company (Eko DISCO) as a major signal of renewed investor confidence.

Shettima attributed the growing interest to the administration’s reform agenda, emphasising that credibility, consistency, and clarity remain the strongest drivers of capital inflows. He warned against policy inconsistencies, noting that overlapping mandates and unclear roles could undermine market stability.

Closing the metering gap

Bureau of Public Enterprise (BPE) director-general Ayodele Gbeleyi updated the Council on the distribution sector recovery programme, a $500 million initiative financed by the World Bank. A major component of the programme is the procurement of approximately 3.22 million prepaid metres to bridge a gap currently estimated at 5.6 million.

Gbeleyi explained that contracts have been signed for 1.43 million metres, with almost 400,000 already installed across the 11 DISCOs. He added that the BPE has brought its audited financial statements up to date, presenting the 2025 accounts to the Council in line with global best practices.

Settlement of outstanding allowances

At a subsequent media briefing, the director-general disclosed that the NCP approved N157 million for 830 former staff of NICON as repatriation allowances, which had been outstanding for two decades.

The Council also approved the lease of four coal blocks to a special purpose vehicle (SPV) of the Enugu State Government, subject to securing mining licences from the Mining Cadastre Office. (BusinessDay)

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