Public Enterprises (Privatization and Commercialization) Act (Amendment) Bill

A Bill amends the framework for privatizing and commercializing public enterprises. It targets government-owned entities and private investors to ensure efficient operations. This seeks to improve transparency and economic performance.

Public Enterprises (Privatization and Commercialization) Act (Amendment) Bill Policy Overview

What Is This Policy?

An amendment to the privatisation and commercialisation framework to update the legal basis for divestiture of government enterprises, strengthen the role of the Bureau of Public Enterprises, and incorporate lessons from previous privatisation exercises.

Who Does It Target?

Government-owned enterprises (GOEs) earmarked for privatisation Private investors and investment consortia in privatisation bids Bureau of Public Enterprises (BPE) Federal Executive Council and relevant ministries

What Does It Aim to Achieve?

Accelerate the privatisation of underperforming government enterprises to improve efficiency Ensure transparent, competitive, and value-maximising divestiture processes Protect workers' interests and public assets during privatisation Improve service delivery in key sectors through private sector participation

Key Features

Current Status

Funding: Privatisation proceeds go to the Privatisation Proceeds Account; BPE funded from federal budget

How to Access

Investors register with BPE to participate in privatisation exercises. Requirements: Demonstrated technical and financial capacity for target enterprise Compliance with SEC rules on capital market transactions Anti-money laundering and source-of-funds verification Commitment to performance and investment agreements Application method: BPE website: www.bpe.gov.ng — expression of interest in specific privatisation exercises

Important Terms

Privatisation proceeds are constitutionally required to benefit all Nigerians Buyers must maintain minimum employment levels for 5 years post-acquisition Strategic assets (power, water, major infrastructure) subject to special golden share provisions

Impact & Metrics

Previous privatisation exercises raised over ₦600 billion; current round targets further divestiture of remaining underperforming federal enterprises.

Official Resources

Website: www.bpe.gov.ng Contact: Bureau of Public Enterprises — [email protected] Federal Republic of Nigeria — Policy Summary Document | March 2026

Legal Framework

The Public Enterprises Privatisation and Commercialisation Act (Amendment) Bill operates under the Bureau of Public Enterprises Act, the Fiscal Responsibility Act 2007, and the Public Procurement Act 2007. The original Act derives authority from the 1999 Constitution (Section 53 of the Second Schedule — Federal Government enterprises). The amendment aligns with the National Council on Privatisation guidelines, the Infrastructure Concession Regulatory Commission Act 2005, and World Bank privatisation best practice standards.