The Federal Government of Nigeria has announced plans to sell selected state-owned assets to private investors in 2026 as part of efforts to boost revenue and deepen economic reforms. Finance Minister Wale Edun revealed that the government is finalising which assets will be offered and the timeline for their disposal.
Edun made the disclosure during the AlUla Conference for Emerging Market Economies in Saudi Arabia, stating that the move is aimed at attracting private capital and optimising underperforming public enterprises.
The minister highlighted that reforms implemented since President Bola Tinubu took office in May 2023 including subsidy removal, foreign exchange liberalisation, and tax law overhauls — have stabilised inflation, strengthened the naira, and improved government revenue, making Nigeria more appealing to investors.
Edun added that discussions are ongoing with a Chinese firm and other investors to operate some of Nigeria’s idle refineries, potentially through equity sales. He emphasised that the initiative is part of a broader strategy to encourage public-private partnerships and mobilise private investment to accelerate economic growth.
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The International Monetary Fund (IMF) projects Nigeria’s GDP growth at 4.4% in 2026, up from an estimated 4.2% in 2025, reflecting improved economic prospects driven by ongoing reforms and investment initiatives.
Edun also warned that developing economies must rely less on external financing due to rising global interest rates and geopolitical tensions. He stressed the need to mobilise domestic resources and strengthen regional cooperation to support investment and sustainable growth.
He further noted that rising debt servicing costs pose challenges for funding critical growth and social programmes, underlining the importance of strategic asset sales and private sector participation to expand economic opportunities.
The government’s asset sales plan signals a renewed commitment to leveraging private investment as a key driver for economic growth and fiscal sustainability.