Privatisation Drive: Nigeria’s Chance To Unlock Idle Wealth
By FIDELUS ZWANSON
THE Federal Government’s decision to privatise 91 state-owned assets marks a critical turning point for Nigeria’s struggling economy. For decades, public enterprises—from oil giants to utilities—have been symbols of wasted potential, trapped by inefficiency, poor management, and political interference. Experts agree: government has no business running businesses.
Economist Prof. Ken Ife argues that privatisation will unlock liquidity and expand productive capacity, while pointing to Nigeria’s 42 million SMEs as proof that private enterprise, not bureaucracy, drives growth. Dr. Ayo Teriba adds that taking these assets to the market, even listing them on the stock exchange, would not only reveal their true value but also create sustainable revenues.
The caution, however, is clear. As shareholders’ advocate Moses Igbrude warns, transparency and competence must guide the process. These assets cannot be handed to cronies or inexperienced firms. Regulators must insist on accountability, ensuring that bidders have the financial muscle and technical expertise to revitalise them.
If done right, this privatisation is more than a revenue-raising scheme—it is an opportunity to modernise key sectors, attract investment, and unleash Nigeria’s entrepreneurial energy. If bungled, it risks becoming yet another fire sale that enriches a few while leaving the nation poorer.
The test before government is simple: will this be reform in the national interest, or just another round of asset stripping?
