The Lagos Chamber of Commerce and Industry has called on the Federal Government to publish a clear list of assets earmarked for sale, timelines, and details on the utilisation of proceeds from the projected N189 billion revenue expected from national asset sales.
The President of the LCCI, Engr. Leye Kupoluyi, made the call at the Chamber’s event titled ‘On the State of the Economy’, held yesterday in Lagos.
Kupoluyi said, “In the 2026 Appropriation Bill, the federal government projected N189 billion in revenue from asset sales and privatisation as part of a N25.27 trillion financing plan to bridge the fiscal gap.
“Although the specific assets were not listed, the proposed transactions span oil and gas, power, transport, industry, real estate, and other strategic sectors, aimed at monetising public holdings and reducing direct state involvement in commercial activities.”
He said the Chamber acknowledges the approach as a means of easing fiscal pressure and improving efficiency, provided the process is transparent, competitively executed, and supported by strong governance frameworks.
He urged the government to publish a clear asset list, timelines, and details on the use of proceeds, recommending that the funds be reinvested in infrastructure, human capital, and productivity-enhancing projects.
Kupoluyi stated that privatisation should be part of a broader structural reform agenda rather than a short-term financing measure, in order to deliver sustainable growth and long-term national value.
He also said the Federal Government’s earmarking of N1.7 trillion in the 2026 budget reflects a formal acknowledgment of persistent payment delays to contractors, noting that “this provision aims to settle verified 2024 capital project liabilities and ease the financial distress faced by indigenous contractors.
“However, recurring backlogs highlight structural issues such as weak revenue performance and delayed capital releases. Sustained fiscal discipline and timely cash backing are critical to restoring contractor confidence and enabling infrastructure delivery.”
On local LPG production, Kupoluyi said, “the fact that local refineries and gas processing plants supplied 87 per cent of Nigeria’s cooking gas (LPG) demand in 2025 represents one of the most consequential structural shifts in Nigeria’s downstream energy landscape in decades.
“This is not merely an incremental improvement; it is a decisive break from chronic import dependence and a clear signal that domestic energy industrialization is finally gaining scale, credibility, and momentum.”
Speaking on the new tax regime, he said, “after due consideration of the implications of the new tax laws for businesses, hereby calls on companies to continue their operations and remain formal with the tax authorities as implementation commences.
“We see the process as an essential reform to update the fiscal framework, enhance competitiveness, and increase revenue. However, successful implementation requires clarity, transparency, collaboration, and business-focused execution to achieve economic benefits without stifling growth.”
Looking ahead to 2026, Kupoluyi said, “LCCI identifies agriculture and agro-processing, manufacturing, infrastructure, energy, and human capital development as key growth drivers in 2026.
“Unlocking these sectors will require decisive execution, scaling irrigation and agro-value chains, reducing power and logistics costs for manufacturers, accelerating infrastructure delivery through PPPs, sustaining oil and gas sector reforms, and aligning education and skills development with private-sector needs.”
