MARKET NEWS

By Philip Shimnom Clement

The Bureau of Public Enterprises (BPE) says it has concluded plans to list two electricity Distribution Companies (DisCos) and one Generation Company on the Nigerian Stock Exchange through an Initial Public Offering.

The Director-General of BPE, Ayodeji Gbeleyi, made the revelation on Tuesday during a media briefing in Abuja.

He explained that the move is part of the federal government’s broader strategy to deepen private sector participation in the power sector and attract long-term investment that would boost efficiency and service delivery.

Daily Trust reports that the federal government has 40% shares in discos which were recently transferred to the Ministry of Finance Incorporated (MOFI).

The Discos are Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt, and Yola electricity distribution companies. They have been recently burdened by huge debts owed to the federal government.

Gbeleyi, however, declined to reveal the identities of the companies set to be listed, stressing that such information was bound by corporate confidentiality. He further revealed that shareholders’ loan agreements had recently been signed for 10 out of the 11 DisCos, a development he described as critical to stabilizing the operations of the firms.

According to him, the disbursement of the loans would commence in the coming weeks.

He added that the planned listing of the DisCos and GenCo on the stock exchange is expected to provide Nigerians an opportunity to invest directly in the power sector, a move analysts say could help strengthen transparency, corporate governance, and accountability in the industry.