Nigeria set to sell down stake in oil ventures to boost finances

Nigeria wants to sell part of its share in oil ventures with international companies as President Muhammadu Buhari advances his post-election plans to boost state finances and accelerate energy reforms.

Udoma Udo Udoma, budget minister, said Nigeria was seeking to improve government revenues with the “immediate commencement of the restructuring of the joint venture oil assets”, according to Reuters.

He said the government wanted to reduce its ownership of joint ventures to 40 per cent and expected the restructuring programme to be completed this year.

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hmnn

Sell and consume. Not only Will they sell shares and consume, they will also borrow and consume.

The current structure is like pouring water in a basket.

Don't sell now as it will affect Restructuring adversely later.. It will amount to Advanced Credit Buying for Concerned States. It's economic rigging.

Don't sell now as it will affect Restructuring adversely later.. It will amount to Advanced Credit Buying for Concerned States. It's economic rigging.