• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, August 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Eleme Petrochemicals, NICON Insurance, Others Top FG’s Assets For Capital Market Listing

by Mark Itsibor
2 years ago
in Business
Nigeria
Share on WhatsAppShare on FacebookShare on XTelegram

Except there is a change in plans, the federal government has concluded on a list of national assets and organisations to be listed in the capital market to raise revenue to partly finance the 2024 national budget.
Top on the market list of the federal government are: Eleme Petrochemicals Company Limited, Nigeria Reinsurance Corporation, National Insurance Corporation of Nigeria (NICON Insurance), and Nigerian Machin Tools in Oshogbo, LEADERSHIP has reliably gathered.

Advertisement

Plans have been concluded to list the assets in the capital market within the first three months of 2024 as part of the government’s special purpose investment vehicle in line with its economic liberalization principle.

The government expects to generate N298.4 billion in income from the planned sale of some national assets under the 2024 national budget, a revenue target the director-general of the Bureau of Public Enterprises (BPE) says would be surpassed. “We will exceed the target,” the DG said on Monday shortly after the inauguration of the National Council on Privatisation in Abuja.

Okoh said the idea is to allow private investors to co-own the assets while also raising revenue for the government aside from the expected job and wealth creation.
The assets which were privatized in 2005 have been mismanaged by the private investors. Okoh had lamented the decay at the NICON Insurance, one of the bad cases of privatisation in Nigeria. Like some other privatized assets, the asset was grossly mismanaged.

Managing director of Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang had disclosed the government’s readiness to identify, revive, and list the moribund government assets on the stock exchanges in the country for enhanced economic growth.
The BPE boss believes that the government should tap into the economic potentials of the private sector which he said can play a dominant role in the ‘Renewed Hope Agenda’ of the current administration.

RELATED

Parallex Bank To Provide Limitless Banking Experience

Bank Unveils N4bn Financial Support For Lagos LGAs, LCDAs

8 hours ago
FCT Town Planners Reaffirm Commitment To Abuja Master Plan Restoration

Ministry Launches Portal For Tracking Real Estate Fraudsters

8 hours ago
ADVERTISEMENT

He expressed excitement that President Bola Tinubu is already engaging foreign investors for opportunities in Nigeria. “For us, it’s the way to go. We can’t borrow ourselves out,” he said, stressing that the government would have to rely less on borrowing.

Okoh said the present administration is determined to wrestle the economy from the inefficiency and bureaucracy of government.

He said the message of economic liberalisation is resonating more with the current administration than the previous one. “The ideology of privatization is making more sense with the current administration as exemplified by the President’s recent travels in search for private investments. We believe in the principle of economic liberalisation,” the BPE DG said.

ADVERTISEMENT

Nigeria is constrained to provide the needed infrastructure. Currently, Nigeria’s infrastructure is low, but the economy is big. The hope is that the government would be able to raise more revenue through private-sector financing to finance the huge deficit in the national budget.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


SendShare10228Tweet6393Share
ADVERTISEMENT
Previous Post

Railway Projects: Perm Sec Tasks BoI On Low Interest Funding

Next Post

Budget 2024: Nigeria To Surpass 1.7mbpd Oil Production Benchmark – Lokpobiri

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Parallex Bank To Provide Limitless Banking Experience
Business

Bank Unveils N4bn Financial Support For Lagos LGAs, LCDAs

2025/08/28
FCT Town Planners Reaffirm Commitment To Abuja Master Plan Restoration
Business

Ministry Launches Portal For Tracking Real Estate Fraudsters

2025/08/28
Renewed Confidence In Aviation Sector Raises Local Airlines Participation – NCAA
Business

Lagos, FCT, Rivers Generate 70% Of Aviation’s N215.6bn GDP Contribution

2025/08/28
Air Peace Lauds Minister Over Installation Of Airfield Lighting On Lagos Airport
Business

Tinubu’s Brazil Visit Yielded Air Peace, Embraer MRO Agreement – Onyema

2025/08/28
Large-cap Stock Drives Local Bourse To N180bn Gains
Business

Bulls Lose Steam As Equities Market Dips By N325bn Amid Profit Booking

2025/08/28
Kogi Stakeholders Task Federal Gov’t On Ending Benue Killings
Business

Tinubu Promises Continued Support For Capital Market Reforms, Expansion

2025/08/28
Leadership Conference advertisement

LATEST

PDP To Inaugurate 2025 National Convention C’ttee Tuesday

Tobi Amusan Withdraws From Diamond League Final

Safari Announces Release Of Dakuku Peterside’s New Book ‘Leading In A Storm’

Circuits Debuts In Uganda With $15m Investment, 80-title Library

Kwara Gov’t Tasks Teachers On Innovation

ADC Queries INEC’s First Week Continuous Voter Registration Report

NiMet Launches Centralised Platform To Enhance Aviation Safety

ActionAid Launches N11bn Project To Empower Women, Girls In Nigeria

Federal Gov’t Honours 17-yr-old Nafisa For Winning World Title In English Skills

Every Trip, Deal Is For Your Benefit, Tinubu Tells Nigerians

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.