The additional revenue generated from the reforms will be used to help balance the federal budget and encourage fresh investment in the energy industry. “The reform is aimed at increasing private sector equity participation to improve efficiencies in the sector and also provides revenue to the government, which will be deployed solely and exclusively for creating new assets in Nigeria,” a statement from the Debt Management Office (DMO) said. The idea of raising revenue by selling stakes in JV energy assets has been on the table for more than a decade but has always faced significant opposition. However, the plan was given fresh impetus in 2015, when the Central Bank of Nigeria (CBN) promoted the measure as a way to stimulate economic development and create jobs, offsetting the negative impact of falling oil prices. Sharper focus on inefficiencies and finances The proposals signal a significant change in the way […]