Federal Government backs out on sales of assets. After a national outcry against the sale of national assets such as oil and gas facilities in the Niger Delta region of the country. The federal government has systematically surrendered the notion for the time being. This was made known after the Federal Executive Council meeting. According to the Minister for Information and Culture, Alhaji Lai Mohammed, “it was only discussed and endorsed as a Medium Term Expenditure Framework and remains a suggestion but not a solution decided upon by government to rebound the economy.” He said

This is the contrast of the known position of the federal government to the position of the presidency as it pertains the sale of national assets. It has been established that The National Economic Council headed by Vice President ,Professor Yemi Osinbajo had proposed and endorsed plans to sell some national assets, in line with government’s target to raise between ten to fifteen billion dollars to revamp the economy, following the drop in the nation’s monthly foreign earnings to about three hundred million dollars. It is on this ground that the civil societies and labour geared for a showdown. Firing from all cylinders, labour leaders from Lagos to AkwaIbom threatened a lockdown of the economy if any of the oil facilities is being sold.

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As the information minister continued , he said that “ government has already listed conditions that must be met before the sale of certain national assets, top among them the insertion of a buyback clause in the asset sales agreements.” Today the economy bites harder on the average Nigerian on the street and it has been likened to the first coming and a feeling of déjà vu abounds or those Nigerians that were around then. It is all about lamentation and had I known sighs. As of the time of this report Naira exchange rate is $1 to =N=447 . This is the highest the country has ever witnessed since the independence era. The Minister of communication up till the moment of this report is yet to reveal the federal government detailed plans to take the country out of recession.


https://etimesafrica./2016/09/30/sale-of-assets-federal-government-surrenders-and-contradicts/#more-1774