There are indications the Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.

A recent report, which quoted the chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang highlighted the Nigerian National Petroleum Corporation has been among the firms the government may sell a stake in,

He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.

He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.