Nigeria wants to sell some assets. They have many things available. This should not be surprising as I noted that by 2025, Nigeria will sell some university campuses to fund its bloated budgets. Yes, expect the privatization of some federal universities before the end of this decade! In Abia state, the state abandoned a college of education and weeds are now schooling therein! Check out the list...
The Nigerian government hopes to sell or temporarily hand over control of dozens of state-owned businesses in a bid to resuscitate them in 2021 and beyond. […]
For the current year and beyond, the Bureau said it has over 36 transactions and projects, including new reform initiatives for the health, education, and oil & gas sectors.
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The document listed the various 2021 definitive projects under the purview of the Bureau of Public Enterprises (BPE) to include the Nigeria Integrated Power Projects (NIPPS); Calabar, Geregu, Omotosho and Benin (IHOVBOR); Transmission Company of Nigeria (TCN); Zungeru Hydro Plant; Nigerian Postal Service (NIPOST); Abuja Environmental Protection Board (AEPB) and the Nigeria Film Corporation (NFC).
Others are the Federal Capital Territory Water Board; Abuja International Conference Centre (AICC); Save sugar company; Lagos international trade fair complex (LTFC); Tafawa Balewa Square (TBS); River Basins Developments Authorities (RBDAS); Bank of Agriculture (BOA) and the Nigeria Commodity Exchange (NCX).
People, it is a big yard sale – and everything is discounted. I like NIPOST if the price is good. You can buy it just for the prime real estates, and not necessarily for the logistics business. Of course, be aware that pension obligations associated with such assets could be challenging to handle.
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Jumia or Alibaba should buy NIPOST.
Prof, most state entities undergoing privatization enjoy differing powers and entitlements as a production or service arm of Government.
These can vary from legal entitlement to enter premises where citizens are somehow not acting in the state enterprises interest, having non payment by customers (citizens) criminalized in statute…
They may have a state ordained monopoly on provision.
Then you have things like fee waivers from peer state enterprises that may have a mandate to deliver services such as power and other utilities, drainage and waste disposal services.
In some countries the employees (and their dependents) of state enterprises receive priority free service from medical/hospital, public transport and schooling services.
This of course is Nigeria, though a state provider may still enjoy benefits and operational advantages over free market operators.
The extent to which all or any of those powers and/or benefits survive a ‘yard sale’ in Nigeria may be an advantage in the marketplace and a big selling point for a purchaser.
“The extent to which all or any of those powers and/or benefits survive a ‘yard sale’ in Nigeria may be an advantage in the marketplace and a big selling point for a purchaser.” – great point. Most of these assets are going to be discounted. Some would be great deals for those who can manage the pension obligation risks.