Shettima Pushes Expanded PPPs to Drive Nigeria’s $1 Trillion Economy Goal

Vice President Kashim Shettima has urged a stronger push for Public-Private Partnerships (PPPs) as Nigeria intensifies efforts to grow its economy to $1 trillion.

Speaking on Thursday while presiding over the first 2026 meeting of the National Council on Privatisation (NCP) in Abuja, Shettima stressed the need to strategically manage national assets to attract global investment and benefit citizens.

He noted that economic prosperity is not accidental but requires deliberate planning, strong institutions, and effective management of public resources. According to him, national assets must be positioned to serve the people while drawing in foreign capital.

The Vice President pointed to the recent sale of Eko Electricity Distribution Company (Eko DISCO) as evidence of renewed investor confidence, attributing the development to the administration’s clear policies and decisive leadership.

A major highlight of the meeting was progress on the $500 million World Bank-supported power sector recovery programme. The Director-General of the Bureau of Public Enterprises (BPE), Ayodeji Ariyo Gbeleyi, disclosed that efforts are underway to close Nigeria’s 5.6 million metering gap and eliminate estimated billing.

He revealed that contracts for over 1.4 million meters have been awarded, with nearly 400,000 already installed across the country’s 11 electricity distribution companies. The initiative targets the deployment of 3.22 million prepaid meters nationwide.

The BPE also presented its audited financial statements for the year ending December 31, 2025, earning commendation from the Council for promptly updating its financial records.

In addition, the NCP approved ₦157 million in repatriation allowances for 830 former NICON employees, settling a 20-year-old obligation. It also gave the green light for the lease of four coal blocks to a Special Purpose Vehicle owned by the Enugu State Government, subject to securing the necessary mining licences.

Shettima concluded by cautioning against policy inconsistencies and overlapping responsibilities within government agencies. He called for faster development of viable investment projects and stricter monitoring of privatised assets, emphasizing that government must present a unified position to gain investor trust.