President Muhammadu Buhari has been told by the Senate to sell off some of Nigeria’s national assets if the country must overcome recession.

The President of the Senate, Bukola Saraki has
recommended the sale of some national assets to get the country out of its current recession. He said
this during his welcome address to Senators at the resumption of plenary on Tuesday..

.He said, “The Executive must raise capital from asset
sales and other sources to shore up foreign reserves. This will calm investors, discourage
currency speculation and stabilise the economy.
“The measures should include part sale of NLNG Holdings; reduction of government share in
upstream oil joint venture operation; government
stake in financial institutions, e.g, African Finance Cooperation; and the privatisation and concessions
of major/regional airports and refineries.

” Also, he advised the Federal Government to immediately engage in meaningful dialogue with those aggrieved in the Niger Delta to forestall further destruction of oil pipelines in the region.
It would be recalled that Africa’s richest man, Aliko
Dangote recently advised the Federal Government
to sell some national assets instead of borrowing to get the country out of the recession.


He said this in an interview with CNBC Africa, the billionaire said: “The only way for us to get out of this recession is to make sure we move into action
quickly; action by diversifying the economy quickly.
“If I had challenges in my company, I would not
hesitate to sell assets, to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organisation.

“What we need to do now in my own thinking… we have a lot of assets to sell. We can sell part of the joint venture; part of the shares. You know
government normally owns 60 percent.


“We can sell in an open tender be it Chinese. We can change the term and make it an operating one, just
like what we have in NLNG. We also have another asset I think we don’t really need.


“The African finance corporation; it can fetch them $800million easily. My own suggestion before was
that they should even sell 100 percent of NLNG. I don’t think government should be in any business of investing in sectors of LNG.
“A company like that, with earnings of $1.5 billion
on the average, they should get anywhere between $12 billion and $15 billion.”

source:www.tori.ng/news/40793/senate-tells-president-buhari-to-sell-national-ass.html

cc lalasticlala mynd44

What if they loot and launder the money from the sale of the assets, what will happen next? A bigger recession? I'm not it's bad to sell the assets but the probability that the money will be diverted is close to 99%. My 1 kobo.

jesse8048:
What if they loot and launder the money from the sale of the assets, what will happen next? A bigger recession? I'm not it's bad to sell the assets but the probability that the money will be diverted is close to 99%. My 1 kobo.

thats nigeria for you!

Sale of assets to remain afloat can be an option for now.The recession is real sir

Him don bring out the $$ wey him hide?

So Dangote has now turn economics guru? Because he suggested it everyone is now jumping into the bandwagon.
That is how they say naira should be devalued and our problems will disappear. Guess what, we are in deeper Sh*t

They have all forgotten how that same LNG paid the gov't some cool billion jst a few months after taking over.

Saraki should go and siddon, am sure BABA would not listen to him

raphieMontella:
President Muhammadu Buhari has been told by the Senate to sell off some of Nigeria’s national assets if the country must overcome recession.




source:www.tori.ng/news/40793/senate-tells-president-buhari-to-sell-national-ass.html

cc lalasticlala mynd44

Agreed. government should sell off some of its assets and also drastically reduce your bogus allowances. If possible to make your duty part time job so that we can save the nation huge amount of money

Yes dis is d next plan of d grand master plan of selling nigeria off dangote said b4 NIG 4 SALE GOING!GOING! !GOING! !! bubuhari is a big tif

Useless criminals running the county aground

Everything in this country na conspiracy
Na Dangote flew d kite n nao d rest dey 4lo. Well if we will sell anything, it should b senate complex

NairaandNigeria:


Agreed. government should sell off some of its assets and also drastically reduce your bogus allowances. If possible to make your duty part time job so that we can save the nation huge amount of money

lol

Just as Dangote had earlier advised.... But as obstinate as PMB, he will not listen...

Foolish people.

jesse8048:
What if they loot and launder the money from the sale of the assets, what will happen next? A bigger recession? I'm not it's bad to sell the assets but the probability that the money will be diverted is close to 99%. My 1 kobo.

Exactly. They are just looking for more resources to share as there are less money for looting these days

See these people una dey look for money wey una go loot and launder..