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BPE to Optimise Private Sector Investment to Ease Nigeria’s Borrowing

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Bureau of Public Enterprises BPE Privatised Enterprises

By Adedapo Adesanya

The Bureau of Public Enterprises (BPE) has reiterated its commitment to optimise the federal government’s assets through private sector investment as it seeks to rely less on borrowing to fund the nation’s fiscal plans.

Speaking on this, Mr Alex Okoh, Director-General, BPE said the environment and the reception of the ideology of privatisation under the President Bola Tinubu-led administration were making more sense and gaining more ground under the present administration than the previous ones.

The DG said the present government was free market-oriented and private sector-oriented, thereby showing encouragement for the private sector to play a more dominant role in the economy.

He said this was against previously keeping everything within government, even when inefficiently managed.

“The president has been engaging the international investment community with the same message that Nigeria is open for business. The signal we are sending is that we have the opportunities for foreign direct investments to locate opportunities within the sector.

“For us, it is the way to go. We cannot borrow ourselves out of this problem because the more you borrow the deeper you dig the hole. Our position has always been that we need to optimise the assets the Federal Government has and rely less on borrowing to fund our fiscal plan.

“That is the role we will continue to play and more aggressively in 2024,” he stated.

Mr Okoh said the size of Nigeria’s infrastructure stock to Gross Domestic Product (GDP) was about 35 per cent, describing it as low for the size of the country’s economy.

He said other African countries considered to be ranked below Nigeria had a higher infrastructure stock to GDP compared to Nigeria.

The director-general said Ghana’s infrastructure stock to GDP was 45 per cent, while South Africa was about 70 per cent, and Egypt was close to 68 per cent.

“So imagine if we can raise the level of the infrastructure stock, we can imagine the multiplier effect and impact on Nigeria’s GDP.

“So we need to rethink how we want to grow this economy and create prosperity for the citizens.”

He further said, “We are not just dashing assets that are considered national patrimony to people anyhow. We reason through each privatisation and strategy we are adopting before we go ahead to take those decisions. More goes into the assets optimisation mandate of the bureau.

“There is a lot of efficiency brought into the management of these assets as a result of privatisation, commercialisation and concessioning of those assets rather than keeping them under the inefficient management of government.”

Mr Okoh added that the best business of the government was to provide an enabling environment for businesses to thrive under the drive of the private sector.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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EFCC Arrests Convicted Ex-Power Minister Saleh Mamman

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EFCC Arrest Saleh Mamman

By Modupe Gbadeyanka

The recently-convicted former Minister of Power, Mr Saleh Mamman, has been arrested by the Economic and Financial Crimes Commission (EFCC).

Chairman of the EFCC, Mr Ola Olukoyede, during a press briefing in Abuja on Tuesday, said the former senior government official was apprehended this afternoon along with two others accused of shielding him.

Earlier this month, Justice James Omotosho of the Federal High Court in Abuja convicted Mr Mamman for N33.8 billion fraud after he was found guilty of a 12-count charge brought against him by the EFCC. He was sentenced to 75 years in prison, though he was not present in court on the day of his sentencing.

Speaking with journalists today, Mr Olukoyede said the convict was arrested at 3:30 am on Tuesday in a house in Kano, where he was allegedly being protected.

“Ladies and gentlemen, you will recall that sometime in January 2025, we filed charges against the ex-minister of power for allegedly converting over N33 billion – money that was set aside for the Mambilla and Zungeru power projects,” Olukoyede said during a press briefing.

“About 14 to 15 months down the line, specifically on the 7th of this month, we secured convictions on all 12 counts. Because the defendant was not present, the issue of sentencing was shifted. And on the 13th of this month, he was sentenced in absentia.

“Since then, we decided to open our intelligence surveillance to the public, looking for him all over the place. I am happy to announce to Nigerians that at about 3:30 a.m. this morning, we arrested Mr Saleh Mamman somewhere in Kano. We have discovered that he was actually being protected all this while,” he said.

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UK Backs Pan-African Founder Support Programme at London Tech Week

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UK Pan-African Founder Programme

By Adedapo Adesanya

The United Kingdom is deepening efforts to position itself as a preferred global expansion hub for African startups with the launch of the UK–Africa Ecosystem Week, a coordinated support programme to be delivered during London Tech Week.

Powered by the UK–Africa Sandbox and Ventures 54 in partnership with the UK Department for Business and Trade (DBT), the initiative is expected to provide African founders with structured support to navigate business, investment and networking opportunities in the UK market.

The programme is also backed by the UK Nigeria Tech Hub, the UK South Africa Tech Hub, London & Partners and the Mayor of London’s office, signalling growing institutional support for stronger commercial and technology ties between the UK and African innovation ecosystems.

According to the organisers, the initiative introduces a more coordinated approach to participation at London Tech Week, one of the world’s largest annual technology gatherings, which attracts over 100,000 participants across more than 500 events yearly.

Founders participating in the programme will gain access to curated sessions, concierge-style support services, dedicated workspaces, investor engagement opportunities and market entry guidance tailored to African technology companies seeking expansion into the UK.

A flagship UK–Africa Ecosystem Day will also bring together investors, policymakers, ecosystem builders and founders to discuss commercial expansion opportunities and partnerships between both regions.

Founder of Ventures 54 and UK-Africa Sandbox, Mr Anthony William Catt, said the initiative was developed in response to the increasing number of African startups travelling to London Tech Week over the last few years.

He explained that what started as informal networking gatherings under the London Africa Network had evolved into structured programming and has now scaled into a full week of activities aimed at helping founders maximise opportunities available within the UK ecosystem.

“This is about putting the right structure in place, so African founders have a dedicated support track to get the most out of the week and access the best of what the UK has to offer,” he said.

Speaking on the initiative, Acting His Majesty’s Trade Commissioner for Africa, Mr Ben Ainsley, described the UK as a natural destination for ambitious African startups due to its large technology ecosystem, deep venture capital market and access to global talent.

“The UK Government is committed to supporting high-growth international companies succeed in the UK and initiatives like the UK–Africa Sandbox demonstrate our focus on making it easier for African founders to access support and fully engage with the UK’s world-class innovation ecosystem.”

The programme is expected to attract delegations and founders from countries including Nigeria, South Africa, Kenya, Egypt, Algeria and Ghana.

Organisers added that the initiative would extend beyond London Tech Week through the broader UK–Africa Sandbox platform, which aims to support African founders entering the UK market while also creating pathways for UK startups seeking expansion opportunities across Africa.

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Interswitch Deepens Support for Federal Revenue Collection on RevOP Platform

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Interswitch

By Modupe Gbadeyanka

Efforts by the federal government to improve its revenue collection are being boosted by the adoption of Interswitch’s Revenue Assurance and Optimisation (RevOP) platform.

As a Payment Service Solution Provider (PSSP), the leading integrated payments and digital commerce company has used its platform to strengthen public sector payment infrastructure and support Treasury Single Account (TSA) collections in Nigeria.

Through its integration with the RevOP platform, Interswitch continues to enable secure, end-to-end processing of payments initiated via the portal. Transactions are seamlessly routed into the TSA framework, ensuring compliance with federal government financial regulations while supporting efficient and accountable revenue management.

Leveraging its robust payment infrastructure, Interswitch facilitates multiple payment channels, including card and digital payments, delivering a seamless and reliable experience for citizens, businesses, and government agencies, fulfilling their payment obligations.

Interswitch’s continued role on the platform builds on its longstanding experience in supporting critical national payment infrastructure and collaborating with regulatory and financial institutions to drive digital transformation across Nigeria’s public sector. Its infrastructure is designed to ensure high transaction uptime, real-time processing, and secure data handling, all essential for effective public revenue collection.

By deepening its participation on the RevOP platform, Interswitch further strengthens its position as a trusted partner within Nigeria’s evolving digital payments ecosystem, while continuing to support initiatives that promote fiscal transparency, operational efficiency, and sustainable governance across government institutions.

“Interswitch is proud to continue supporting the federal government’s drive toward greater transparency and efficiency in public revenue management.

“Our role on the RevOP platform reflects our commitment to delivering a secure, seamless, and compliant payment infrastructure that enables all stakeholders to meet their obligations with confidence,” the Managing Director for INCLUSIO at Interswitch, Mr Muyiwa Asagba, stated.

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