“Who Wants to Be a Millionaire? FG Says 91 Firms’ Privatization May Decide”

The story of Nigeria’s economic transformation cannot be told without revisiting the waves of privatization that redefined the nation’s business landscape. What began as a government strategy to reduce the burden of running inefficient enterprises eventually became the launchpad for some of Nigeria’s most celebrated billionaires.

Aliko Dangote, Femi Otedola, Wale Tinubu, and Mike Adenuga are towering examples of how privatization opened doors for ambitious citizens who had the foresight and courage to seize opportunities. Dangote turned government concessions in cement and sugar into global dominance. Otedola made bold moves in oil marketing and power, leveraging privatization openings. Tinubu transformed Oando into a leading indigenous oil company through strategic acquisitions. Adenuga used telecom liberalization and oil asset divestments to build Globacom and Conoil into household names.

These men did not just become wealthy; they reshaped entire industries, creating jobs, driving innovation, and stamping Nigeria on the global economic map. But their stories also carry a reflection: privatization can be the single most powerful redistributor of wealth, if managed transparently.

Now, a new chapter is about to unfold. During a media briefing in Abuja, the Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, announced that 91 government enterprises are scheduled for privatization, concessions, or partnerships. While he withheld the names of specific firms, he stressed that every transaction will be guided strictly by national interest.

According to the BPE chief, the breakdown of these 91 enterprises cuts across critical industries:

• Oil & Gas: 16 firms, including refineries and depots
• Agriculture: 12 enterprises
• Aviation: 20 enterprises, including airports, ground handling, and service firms
• Sports & Public Facilities: 28 stadiums and related assets
• Others: Mining, steel, transport, eco-tourism, and two FCTA-owned agencies

VTM:Out of the total, 35 enterprises will undergo full privatization, while 57 will be partially privatized, though exact allocations are yet to be released.

The announcement has sparked both excitement and anxiety. For those with vision, capital, and networks, the doors of history may be opening once again. The prospect of acquiring a stake in a refinery, running an airport concession, or transforming an agricultural enterprise could mint a new class of Nigerian millionaires, even billionaires. For others, the move raises questions about fairness, transparency, and whether the process will truly benefit the wider citizenry or merely enrich the already powerful.

As Nigeria stands at this crossroads, one thing is clear: privatization has always been a game-changer. Those who paid attention in the past now rank among Africa’s wealthiest. Today, as 91 firms prepare to change hands, the same opportunity is knocking again.

The question is no longer whether the government will sell, but who will buy, and who will rise?

So, to every ambitious Nigerian with the will and courage to play big, the call is loud and clear: Who wants to be a millionaire?