Vice President Kashim Shettima has emphasized the pivotal role of the National Council on Privatisation (NCP) in leveraging Nigeria’s core national assets to achieve the economic vision of President Bola Tinubu’s administration.
Speaking during the 4th NCP meeting held on Tuesday at the Presidential Villa, Abuja, the Vice President urged council members to align their efforts with national priorities and provide leadership that benefits all Nigerians.
He stressed that the council’s work is crucial in Nigeria’s current economic context, highlighting the need to maximise the value of national assets to unlock the prosperity the administration is striving for.
“This council’s work has never been more important, especially given our economic climate,” Shettima stated.
“Maximising value from core national assets is a key tenet of President Bola Ahmed Tinubu’s economic agenda. Posterity will judge us kindly if we remain fair and effective in serving the Nigerian people.”
The Vice President outlined the council’s agenda, which included reviewing post-privatisation matters, addressing critical sector reforms, and approving strategic projects.
Members also reviewed presentations from the council’s finance, technical, and legal committees, which were subsequently ratified.
The Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Gbeleyi, presented the proposed 2025 work plan, focusing on revenue-generating projects and bolstering concession management.
He also updated the council on the establishment of the Nigerian Independent System Operator (NISO) to improve transparency and efficiency in grid management.
Key updates during the meeting included:
The restructuring of electricity distribution companies in Kano, Kaduna, Benin, and Ibadan.
Regulatory changes for electricity markets in Edo, Enugu, Ekiti, Imo, Kogi, Oyo, and Ondo states.
Progress on operations at the Zungeru Hydropower Plant, Kainji, and Jebba Hydroelectric Power Plants.
A proposal to relocate four turbines from the Afam power plant to the Ughelli power plant to enhance electricity supply to the national grid.
These initiatives reflect a broader strategy to tackle Nigeria’s power challenges and bolster infrastructure for long-term growth.
Shettima charged council members to ensure their decisions align with the needs of the Nigerian people, emphasizing the significance of fairness and accountability. “Our people need our leadership.
The judgement of history will be determined by the outcomes of our decisions today,” he said.
Present at the meeting were key stakeholders, including the Ministers of Budget and Economic Planning, Power, and Water Resources, alongside other NCP members.
The council’s deliberations underline the administration’s commitment to structural reforms and economic revitalization, particularly through the efficient management of national assets and the power sector.
As Nigeria navigates its economic challenges, the success of these initiatives will play a critical role in shaping its future.