Shettima Pushes PPP Expansion, Power Metering Drive Gains

Vice President Kashim Shettima on Thursday called for an aggressive expansion of public-private partnerships (PPP) to accelerate Nigeria’s economic growth, as the Federal Government moves to unlock national assets and attract global investment.

Speaking at the first 2026 meeting of the National Council on Privatisation at the Presidential Villa, Abuja, Shettima said Nigeria must deliberately align private capital with national development priorities to achieve its long-term economic ambitions, including the goal of building a trillion-dollar economy.

He stressed that economic prosperity requires careful planning and strong institutions, noting that investors are drawn not by rhetoric but by policy clarity, consistency, and credible reforms.

“The task is not only to make Nigeria a safe destination for investment, but to ensure such investments serve the broader national interest,” the Vice President said.

Shettima highlighted progress across key sectors such as mining, agriculture, and energy, citing the recent sale of Eko Electricity Distribution Company as evidence of renewed investor confidence in the country’s reform agenda.

He urged the council to fast-track the development of bankable projects and deepen PPP adoption as a central strategy for economic expansion, while also warning against policy inconsistencies that could weaken investor trust.

“Government must speak with one voice. Policy confusion is costly and can unsettle the market,” he added.

On power sector reforms, the Director-General of the Bureau of Public Enterprises, Ayodeji Ariyo Gbeleyi, disclosed that efforts are underway to bridge Nigeria’s estimated 5.6 million metering gap.

According to him, under a $500 million World Bank-backed distribution recovery programme, contracts have been signed for over 1.4 million prepaid meters, with nearly 400,000 already installed across electricity distribution companies nationwide.

The initiative, he said, is aimed at eliminating estimated billing and improving power supply stability.

Gbeleyi also noted improvements in governance within the privatisation framework, including the clearance of outstanding audited financial statements and adherence to global best practices.

In addition, the council approved N157 million as outstanding allowances for 830 former staff of NICON and endorsed the lease of four coal blocks to an Enugu State government-backed special purpose vehicle, subject to regulatory approvals.

The Federal Government said the combined reforms are part of a broader strategy under President Bola Ahmed Tinubu to reposition the economy and drive sustainable growth.