Fed govt targets expanded PPP pipeline to drive growth, close power metering gap

According to a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima stressed that achieving the country’s long-standing goal of becoming a $1 trillion economy would depend on striking the right balance between public enterprise and private sector dynamism.

“Prosperity does not happen by accident. It is designed, negotiated, protected, and sustained by institutions that understand that national assets must be deployed in the service of the people,” he added.

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Shettima highlighted progress recorded in key sectors including mining, agriculture, and energy, citing the sale of Eko Electricity Distribution Company (Eko DISCO) as evidence of renewed investor confidence in Nigeria’s reform agenda.

According to him, consistency in policy direction, institutional credibility, and clarity of purpose have remained critical in attracting investment inflows.

“Investors do not respond to rhetoric alone. They respond to coherence, to clarity, and to the evidence that a country knows where it is going and has the courage to stay the course,” he said.

The Vice President also charged the council with deepening the use of PPP frameworks and strengthening post-privatization oversight to ensure that divested assets meet contractual obligations and contribute meaningfully to national development.

He warned that policy inconsistencies and overlapping mandates across government institutions could undermine investor confidence and stall reform progress.

“Policy confusion is expensive. Overlapping mandates unsettle the market. If we are to speak convincingly to investors, the government must speak with one voice,” Shettima cautioned.

Meanwhile, the Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Ariyo Gbeleyi, disclosed that the Federal Government is making significant progress in closing Nigeria’s electricity metering gap through a $500 million World Bank-backed Distribution Sector Recovery Programme.

Gbeleyi said the initiative targets the procurement of about 3.22 million prepaid metres to reduce the country’s estimated 5.6 million metering deficit.

“As of today, we have signed a contract for 1,437,000 metres that have already been deployed in the country. As we speak, almost 400,000 of those metres have been installed across the 11 DISCOs,” he said.

He explained that the programme is designed not only to stabilise electricity supply but also to eliminate estimated billing, in line with President Bola Tinubu’s directive.

The BPE boss further noted that the agency has strengthened its institutional credibility by clearing a backlog of audited financial statements inherited from previous years.

“In less than nine months, we brought all outstanding audited financial statements up to date in line with the Public Enterprises Act. We have also sustained this momentum, presenting our 2025 audited report within record time,” he said.

Gbeleyi added that ongoing reforms and optimisation of national assets are central to the administration’s broader economic strategy of repositioning Nigeria for sustained growth and scaling its Gross Domestic Product to $1 trillion in the near term.

The NCP meeting, he said, underscored the government’s resolve to deepen structural reforms, enhance transparency, and leverage private sector participation to drive inclusive economic development.