The Nigerian government says it plans to sell some electricity-generation companies in the country, six months after it announced the restructuring of power distribution companies and privatisation of five power projects.
The government said the sale will take place in the first quarter of 2023 and the proceeds will be used to fund the 2023 budget, Bloomberg reported Thursday.
President Muhammadu Buhari presented a record budget of N20.5 trillion in October for next year with N10.78 trillion not backed by revenue, leaving a budget deficit that is 4.8 per cent of the GDP.
