The Bureau of Public Enterprises says it is preparing to list two electricity distribution companies and one generation company on the Nigerian Exchange through an initial public offering.

The director-general of the BPE, Ayodeji Gbeleyz disclosed this on Tuesday at a media briefing in Abuja.

He explained that an IPO allows a private company to offer shares to the public as a means of raising capital for expansion, debt reduction, or other operational needs.

Gbeleyi, however, withheld the names of the companies, citing confidentiality.

On the national refineries, Gbeleyi reaffirmed BPE’s commitment to supporting policies that would curb financial leakages.

He noted that under the Renewed Hope Agenda, the bureau is accelerating key energy projects such as the Distribution Sector Recovery Programme, Afam III Fast Power, the Makurdi Hydropower Plant, as well as ongoing reforms in the mining sector.

“For us at the BPE, we have indeed set sail on re-engineering the reform and privatisation of public enterprises, one transaction at a time,” Gbeleyi said.

“The bureau is also working on broader economic diversification through partial or full commercialisation of key agencies such as the National Parks Service, Nigeria Film Corporation, Federal Mortgage Bank of Nigeria (FMBN), and the Federal Housing Authority (FHA).”

He added that there are ongoing engagements for the concession of five airports and the optimisation of Baro Inland Port in collaboration with the ministry of marine and blue economy and NIWA.

However, Gbeleyi said BPE has faced several challenges, including a lack of a clear and predictable legal framework for public-private partnerships, resistance to reforms by some ministries, departments and agencies, inadequate funding, and legacy transaction-related litigation

He said BPE was working with the ministry of budget and economic planning and other stakeholders to build a strong pipeline of catalytic PPP projects.