The Director – General of Bureau of Public Enterprises ( BPE ) , Mr Ayodeji Ariyo Gbeleyi, declared in Abuja Tuesday that Nigeria will need to expend $100billion annually for 23 years to bridge infrastructure gaps in the country, currently estimated to be $2.3trillion.
Gbeleyi who stated this at the conference room of the agency during interactive session with Editors and Bureau Chiefs of major media outfits in the country , however disclosed that BPE is currently working on provision of 50million jobs for Nigerians in line with the renewed hope agenda of Federal Government.
“Nigeria has a $2.3trillion infrastructure gap an indication that for over 23 years, Nigeria will need to spend an average of $100billion annually.
“BPE is working to deliver 50 million jobs to Nigerians in line with the renewed hope agenda of President Bola Tinubu led federal government.
“We are poised to consolidate on our past achievements as we pivot into a future of excellence with greater activism towards actualisation of $1trillion renewed hope economy,” he said.
On the Nation’s oil refineries , the BPE boss said the agency is open to whatever model that could be the best for them.
“Nothing is cast on stone on the privatization of refineries. We are working to achieve the very best for Nigeria.
“These things are all driven by financial models ranging from commercialisation to concessioning and even privatisation.
“But for us , our take is to stop the bleeding and leakages.
According to him, the power sector is now more liquid than it was upon privatization even as the federal government subsidy has reduced.
He recalled that in 2013, average energy generation was 3,432MW out of 9105MW but it rose to 5,366MW out of 13,500MW as at first quarter 2025.
He said Ughelli, Geregu, Egbin and Kainji GenCos have ramped up capacities and additional 700MW from Zungeru injected.
“The Bureau of Public Enterprises (BPE) is set to list two electricity Distribution Companies (DisCos) and one generation company (GenCo) for the Initial Public Offer (IPO) in the Nigeria Stock Exchange market.
“Today,network are being considered for IPO. Today, we see that sector potentially a good candidate for an IPO on the Nigerian exchange, and we are currently working on that as well,” he disclosed.
He however, for the purpose of corporate confidentiality , refused to name the companies to be listed.
On metering, he said from the 403,255 meters recorded in 2013, the industry as at 31st March 2025 recorded 6,468,036 meter installation .
Giving the breakdown, he said 3.2 million meters came from the $500million Distribution Sector Recovery Program (DISREP) Program while 2.5 million meters were from the Presidential Metering Initiative.