The Federal Government on Saturday said the proceeds from the sale of some of the country’s national assets would be used to fund the expenditure of government as contained in the 2016 budget.

It said while the government had mapped out key infrastructural projects that would support its economic diversification agenda, the shortfall in revenue had made it difficult for these projects to be executed.

The Minister of Budget and National Planning, Senator Udo Udoma who stated this in a statement issued by his Media Adviser, Mr Akpandem James, explained that the government had lost almost half of its expected revenue this year.

The minister explained that the unfortunate scenario was what prompted the Economic Management Team to urgently work out a fiscal stimulus plan to generate large funds to be injected into the economy.

The funds, he noted,would be injected through proceeds of asset sales, advance payment for license rounds, infrastructure concessioning, use of recovered funds, among others, to reduce the funding gap.

He said the primary objective of government’s fiscal stimulus plan is not to sell off all major critical national assets,but to source immediate funds to reflate the economy to the path of recovery.

Chubhie:
Fund 2016 or 2017 budget?

Chubhie:
Fund 2016 or 2017 budget?

jmichlins:
there's no curse as deadly as APC and Buhari. I curse the day the two came into existence. The government already had the plans Dangote just let the cat out of the bag

Paperwhite:
APC have reach the peak of their lies & cluelessness.What becomes of all the recovered,borrowed & all the media propaganda monies.By the time another government will unearth all APC's corruption in future time,Nigerians will surely curse the day they allow these crooks into our political space.#CHANGEISALLABOUTLIES&SCAM.

jmichlins:
there's no curse as deadly as APC and Buhari. I curse the day the two came into existence. The government already had the plans Dangote just let the cat out of the bag

Dutchboy:

I apologize,I was one the supporters of APC on nairaland during the Presidential elections. I thought Buhari was actually sincere,I fell for the APC scam,but now my eyes are opened.

jmoore:
2017- APC led government sells National assets to fund budget.

2018, what will they sell? Mumu government.

Paperwhite:
My dear thank providence you find out earlier as APC's lies being repeatedly told tend to appear as truth.

STFUand4kMeHARD:
Looted Funds: FG Recovers N3.4 Trn Cash, Assets – Amaechi


Source: http://www.vanguardngr.com/2016/09/looted-funds-fg-recovers-n3-4-trn-cash-assets-amaechi/

FG Saves Over N3 Trillion through TSA
March 24, 2016


Source: http://www.thisdaylive.com/index.php/2016/03/24/fg-saves-over-n3-trillion-through-tsa/

gabydaniels:
Buhari Has Saved N1.4trn By Not Paying Subsidy On Fuel – Osibanjo


Source: http://www.thisdaylive.com/index.php/2016/08/26/osinbajo-we-have-saved-n1-4tn-by-not-paying-fuel-subsidy/

newbornmacho:

I am as pained as you are, bro, may all those who sold this death to Nigerians never know peace.