BPE Targets $1trn Economy, Projects ₦189.1bn Revenue In 2026 — Gbeleyi

The Director-General of the Bureau of Public Enterprises (BPE), Ayodeji A. Gbeleyi, has reiterated the Federal Government’s commitment to achieving a $1 trillion economy by 2030, saying the target requires bold structural reforms, private sector capital mobilisation and stronger institutions.

Gbeleyi, who was represented by the Director of Industries and Services of the Bureau, Toibudeen Oduniyi, stated this at the Annual General Meeting of the Finance Correspondents Association of Nigeria (FICAN), Abuja Branch.

Speaking on the theme, “Actualising Bola Ahmed Tinubu’s $1 Trillion Economic Agenda,” Oduniyi said Nigeria is undergoing significant economic reforms aimed at stabilising the macroeconomic environment and repositioning the country for sustainable growth.

He noted that recent reforms are designed to strengthen fiscal discipline, improve asset performance and enhance investor confidence.

He highlighted the Bureau’s ongoing efforts to reset the power sector, describing electricity as critical to industrialisation and competitiveness. He said BPE has strengthened collaboration with key stakeholders in the Nigerian Electricity Supply Industry, improved contract compliance, and optimised concession agreements to unlock value and improve operational efficiency.

According to him, the renegotiation of the Zungeru Hydropower concession in 2025 resulted in an early payment of ₦107 billion into the Federal Government treasury, while the completion of the Afam and Afam III Fast Power transaction generated ₦54 billion.

He added that reforms supporting the unbundling of the Transmission Company of Nigeria and the operationalisation of the Nigerian Independent System Operator are reinforcing regulatory clarity and grid stability.

On revenue generation, Oduniyi disclosed that the Bureau contributed about ₦185 billion to the treasury in 2025, helping to ease fiscal pressures. He further revealed that the Bureau’s approved 2026 work plan comprises 15 strategic projects with projected revenue of ₦189.1 billion, including the commercialisation of selected National Integrated Power Plants, public listing of a distribution company on the Nigerian Exchange, concession of Oyan Dam, and asset optimisation in the oil and gas sector.

Beyond revenue targets, he explained that the transactions are structured to deepen the capital market, attract domestic and foreign investment, create jobs and support non-oil GDP growth. He also pointed to ongoing initiatives such as the Distribution Sector Recovery Programme to bridge the country’s metering gap and strengthen electricity distribution infrastructure.

Oduniyi emphasised that achieving a $1 trillion economy will depend on transparency, accountability and sustained reforms, while underscoring the critical role of financial journalists in promoting informed public discourse.

He commended FICAN for its contribution to economic reporting and called for continued collaboration in advancing Nigeria’s reform agenda.

Umbwanko Baba, Edited By Grace Namiji