‘We have driven revenue generation by focusing on 15 strategic projects to generate N312.3 billion for the 2025 appropriation through asset sales and privatization.’
The Bureau of Public Enterprises (BPE) has said that Nigeria is creating an enabling environment to generate over 50 million jobs for the teeming unemployed Nigerians.
A statement by the BPE on Tuesday said the move is to deliver sustained and inclusive growth.
The statement which was reported by Channels Television stated that while showcasing the scorecard and its milestone achievements in Abuja, the Director General of BPE, Ayodeji Gbeleyi, explained that the federal government was working to generate jobs by fostering a favourable business environment through policy reforms and infrastructure development, supporting entrepreneurship, promoting skills training, and investing in sectors.
According to him, the Bureau is liberalising the economy through the privatisation of state-owned enterprises to create jobs and to attract direct investment.
Gbeleyi explained that in terms of policy objectives of the privatisation programme, the aim is to reduce inefficiencies and optimise state-owned enterprises, infuse private capital, technology, and innovation, dismantle monopolies and reduce debt borrowing, attract foreign direct investment, and create jobs.
He explained that the government is focusing on social sectors, on human capital development, education, health, and social development, in particular, complementing the fiscal and revenue resources of governments.
”We have driven revenue generation by focusing on 15 strategic projects to generate N312.3 billion for the 2025 appropriation through asset sales and privatization,”Mr Gbeleyi said.
The DG BPE explained that the Presidential Metering Initiative (PMI) is delivering 2.5 million meters to Nigerians to address the metering gap.
The program approved by President Bola Tinubu to address the country’s metering gap by deploying over 7 million smart meters to end estimated billing, reduce energy losses, increase revenue for distribution companies, and create over 20,000 jobs.
On pre-reform in the telecom sector, the DG said Nigeria at one point barely had 400,000 telephone lines that were hardly working, a monopolised market by NITEL and ENTEL.
“As of the end of July this year, telephone subscribers in the country were 169.3 million. Tele-density 78.11 percent. Internet subscription at 138.7 million. Broadband subscription of 104.1 million. Penetration of 48.81 percent. (10:12) Contribution to GDP.” Gbeleyi noted.
Gbeleyi maintained that under the renewed Hope Agenda of President Bola Tinubu, the Bureau was committed to driving inclusive economic growth and sustainable development.
He highlighted eight focus areas for the Renewed Hope agenda to include reforming the economy to deliver sustainable, inclusive growth. The second one is to enhance infrastructure and transportation, and unlock energy and national resources for sustainable development.
Others are on education, health, and social investment, boosting agriculture to achieve food security, accelerated diversification through industrialisation, digitisation, creative industries, manufacturing, and technological security for peace and prosperity.
The Director General of BPE explained that the federal government has put in place a regulatory framework to secure pension funds managed by pension fund administrators.
”Prior to the pension reform, which was also anchored by the Bureau in 2004, we had situations where men and women who had served our country meritoriously had to endure long queues to get their minimum pension payment. But come the Pension Reform Act in 2004, we established the establishment of a supervisory and regulatory framework and the licensing of operators. About 23 pension fund administrators are in the country, with the registration of over 10.79 million RSA accounts as at the end of June 2025. He stated.
According to the Director General, 26 port terminals were leased or concessioned by the Nigerian Ports Authority across six Nigerian ports, Apapa, Tinkan, Tinkan Island, Kalabawori, and Kodakot, which has reduced turnaround time for ships and cargo.
”In the aviation sector, NACO, the Nigerian Aviation Handling Company, and SAPO were also privatised by the BPE. Total assets were 3.3 billion back in December 2024; it has grown to 41.7 billion. Market share, which was just a mere 21 percent, is also catching up at 40 percent.
Gbeleyi said ongoing reforms in the power sector would increase power generation and improve electricity supply.
The Director General of BPE explained that over 500 digital hubs acrossthe country are contributing to economic growth, fostering entrepreneurship, and bridging the digital divide.
He noted that over 1.2 million jobs have been created through POS, plus another 500,000 in direct jobs, expanding the e-commerce market, valued at about 15 billion in 2023.
