This development, recently confirmed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, marks a major shift in Nigeria’s economic strategy. The move aims to attract private capital, optimize underperforming national assets, and help bridge a massive ₦25 trillion budget deficit.

Speaking at the AlUla Conference for Emerging Market Economies in Saudi Arabia (February 2026), Wale Edun noted that the government is shifting away from “holding too many assets that are not generating value.”

The Bureau of Public Enterprises (BPE) has reportedly identified 91 federal assets across various sectors. While the final list is still being refined, key sectors include:

​Note: Negotiations are already rumored to be underway with international investors, including Chinese firms, regarding the management or partial ownership of certain refineries.

This initiative is part of President Bola Tinubu’s broader reform agenda, which has included the removal of fuel subsidies and the liberalization of the foreign exchange market. The government believes these reforms have now made Nigeria a “competitive and attractive” destination for the investors they are courting for 2026.