Nigeria Targets 50 Million Jobs Through Privatization and Reforms – BPE

The Bureau of Public Enterprises (BPE) says Nigeria is creating an enabling environment to generate over 50 million jobs for unemployed citizens while driving sustained and inclusive growth across sectors.

This was revealed during a press conference in Abuja, where the Bureau presented its scorecard and milestone achievements.

Job Creation and Economic Reforms

Director General of BPE, Mr. Ayodeji Gbeleyi, explained that the Federal Government is committed to fostering a favorable business environment through policy reforms, entrepreneurship support, skills training, and infrastructure development.

He said the privatization of state-owned enterprises is a key tool for job creation and attracting investments. The reforms, according to him, aim to:

Reduce inefficiencies in government enterprises
Infuse private capital, technology, and innovation
Attract foreign direct investment (FDI)
Dismantle monopolies and reduce debt borrowing
Generate millions of jobs across multiple sectors

The DG added that government is also focusing on education, health, and human capital development, alongside reforms in key industries.

Revenue Generation

BPE has identified 15 strategic projects to generate ₦312.3 billion for the 2025 budget through asset sales and privatization.

Telecom Sector Reforms

Highlighting past achievements, Gbeleyi recalled that before liberalization, Nigeria had fewer than 400,000 working telephone lines. Today, there are:

169.3 million telephone subscribers
138.7 million internet subscriptions
104.1 million broadband users
The telecom sector contributes significantly to GDP

Power Sector and Metering Initiative

On power, he noted the Presidential Metering Initiative (PMI) is delivering 2.5 million meters with a target of 7 million smart meters nationwide. The initiative is expected to end estimated billing, reduce energy losses, increase revenue for DisCos, and create over 20,000 jobs.

Pension and Transport Reforms

The DG also pointed to reforms in the pension sector, where over 10.79 million Retirement Savings Accounts (RSAs) have been registered since the 2004 Pension Reform Act.

In transport, 26 port terminals have been concessioned, reducing ship turnaround time. Meanwhile, privatization in aviation boosted the Nigerian Aviation Handling Company’s asset base from ₦3.3 billion in 2024 to ₦41.7 billion in 2025.

Digital Economy and Jobs

According to Gbeleyi, 500 digital hubs across the country are driving entrepreneurship, while point-of-sale (PoS) operations alone have created 1.2 million jobs, alongside 500,000 direct jobs in e-commerce, which was valued at $15 billion in 2023.