The government is to sell or concession 36 of its properties between January 2021 and November 2022.

By Queen Esther Iroanusi


The Nigerian government is proposing to sell or concession no fewer than 36 of its properties to raise funds, largely to finance the 2021 budget.

These properties cut across energy, industries, communication and infrastructural sectors.

They are expected to be sold or concessioned between January 2021 and November 2022.

This is contained in a document exclusively obtained by PREMIUM TIMES.

The document was submitted to the National Assembly by the Executive and titled “NCP Approved 2021 Work Plan.” It shows the names of the “projects” (as described by the document), the sale strategy, the duration of the process as well as the cost of the properties.

Top among these properties are the Abuja Environmental Protection Board (AEPB), the Abuja International Conference Centre (ICC), some unnamed refineries, the Transmission Company of Nigeria (TCN), Abuja Water Board, Nigerian Film Corporation, among others.

The federal government’s decision to sell or concession these properties is to help fund the N13.58 trillion 2021 budget signed by President Muhammadu Buhari on December 31, 2020.

There are however, different sale strategies for the properties. While some are ‘core investor sales’, a few others are for ‘share sales’. Some are for ‘concessioning’ and others for ‘full or partial commercialisation’.

Some properties have been enlisted to be sold to a ‘willing buyer’.

A core investor sale is the transfer of at least 51 per cent ownership, accompanied by management control, in a company from government to new private owners. The core investor, according to the Bureau of Public Enterprise (BPE), may be individuals or firms, Nigerian or foreign, with the money required to buy and operate the company, and the technical and managerial capacity needed to ensure that the company is profitable.

Similarly, a concession is a form of Public-Private Partnership (PPP) where a government-owned asset is being operated and maintained by a private investor for a period of time on terms contained in a concession agreement.

Breakdown of properties and prices
The 36 projects have been categorised into five departments, according to the document; energy with nine projects, industries and communications department with eight projects and development institutions and natural resources with six projects.

Others are infrastructure and public private partnership with four projects and post transaction management department with nine projects.


Initial ‘Conflict’

The first hint of sale or concessioning of some properties came to the fore during the BPE’s budget defence session in November 2020.

Although documents presented to the Senate committee on privatisation by the BPE showed plans by the federal government to sell the Integrated Power Plants in Geregu, Omotosho, and Calabar at N434 billion in 2021, among others, the panel said it was not aware of the plan to sell or concession the properties.


The chairman of the committee, Theodore Orji, had said the panel was not aware of the planned transactions and complained that the Director General of BPE, Alex Okoh, “refused to carry members of the panel along.”

However, weeks later, the same panel confirmed that some properties will be sold or concessioned. This was after the panel and the BPE “resolved” the matter.

The federal government also made this confirmation when the finance minister, Zainab Ahmed, presented a breakdown and highlights of the budget to stakeholders weeks after.

She had said in addition to selling or concessioning some national properties, the government will also engage in foreign and domestic borrowings as additional source of finance for the year’s budget.

Already, the process has begun for the concessioning of four properties; the Tafawa Balewa Square, Lagos International Trade Fair Complex, and the Calabar and Kano Special Economic Zones.


Opposition


Many, both individuals and civic groups, have kicked against the government’s plan to sell off some national properties. This is even as they kicked against the idea of borrowing as well.

One of the latest opposition is the Socio-Economic Rights and Accountability Project (SERAP).

The group has written to the National Assembly asking it to stop the president from selling off national properties – an act which it said would amount to a fundamental breach of constitutional and fiduciary duties.

Rather than sell national properties or borrow, SERAP proposed a cut in the cost of governance in areas like lawmakers’ salaries, constituency allowance, wardrobe allowance, recess allowance and entertainment allowance – to help generate revenue.

Describing the sale plan as counter-productive, the organisation said the process would be vulnerable to corruption and mismanagement, undermine the social contract with Nigerians, leave the government worse off and hurt the country in the long run. It is neither necessary nor in the public interest.

https://www.premiumtimesng.com/news/headlines/443532-exclusive-nigeria-to-sell-refineries-icc-34-others-full-list.html


Lalasticlala

sell it to who

let me guess

1. Tinubu

2. Alpha Beta Consulting

3. Oando

4. Bola Hammed

5. Bola Tinubu

6. Tinubu Hammed.


sentiment aside
whether the person stole or not any body who is willing and ready to purchase the refinery and make it work should be giving the opportunity to do so that the benefit will get down to the people in the long run.

methink it is time to force them to re invest their wealth in nigeria

May God help us

Shelumiel:
May God help us

Not happening, God don commot hand for Nigeria matter since.

Very good, privative everything, the government is too sick to handle anything good,.



This people should not try sell nollywood oh, nollywood is doing well on its own, they shouldn't dare tamper with it

International Conference Centre Abuja, National Theatre Lagos, refineries in Kaduna, PH and Warri that waste TAM money every year, Nigeria Film Corporation that existed for ages and achieved nothing, etc. etc. should be sold to generate money rather remain cost centres. If not for Igbo traders Trade Fair Complex Lagos wouldn't be 60% utilized though 40% is still wasting away.

Now, the problem is not selling but who are the BUYERS. Don't sell to Indians for they will sell assets and take money home. Don't sell to political party members for they will not add any value. Sell to local or foreign firms who are already in business or known and proven entrepreneurs with clear utilization and development plans.

But this is Nigeria. The last time we sold DISCOs, it was shared among politicians without any improvement in light.

Same idea Atiku proposed, and y'all almost crucified him.

Hypocrites! Fools!

We don't even know the direction to face anymore! Things re so bad that it look this country is headless

The Nigerian government is totally confused. What will poor and average Nigerians be benefitting from the government at low cost, after these assets are sold to private individuals?

Ah. Nigerian government will start selling citizens to fund 2022 or 2023 budget

When will the whole Nigeria be available for sale?. I want to use it for tan plantation

the cabal

Dangote don hammer again...

[img]https://media./images/83c88de6f72ee8667b2b0b618e65d02e/tenor.gif[/img]

Nigerians.....

The Nigerian govt is proposing to sell or concession no fewer than 36 of its properties to raise funds, largely to finance the 2021 budget.

Meaning Nigeria is doomed if this is the state of financial crunch with this moribund govt. So what about the inprover internal revenue generation from NNPC, NLNG, FIRS, TSA savings, Customs etc as being alleged by the government? 1

So what will they sell thereafter to fund 2022 and other subsequent budgets-Nigerians or put up the nation for sale on Ebay, OLX? Our external reserve they have depleted without any meaningful explanation. Loans upon loans with debt servicing which the nation is yet to pay?

Forget it! Anyone who believes this government meant well for this nation is on a long thing. All these sales of national assets is just to loot for 2023 or as a last minute looting as regards the impending disintegration of this hellhole.

It shall neva b well with all the useless supporters of dis govt... First they claimed subsidy was a fraud and nothing like subsidy, look where were are now, they ended paying trillions in fraud money.
D same refineries Atiku proposed to sell and the useless party called him a thief for.

G

I have always assumed that we will wake up one day and see that Nigeria has been sold.

FISH POND CONSTRUCTION
I require someone that can construct minimum 6 units of surface fish ponds measuring at least 10ft x 30ft in a new farm located at Ayetoro village (4 minutes drive from Redemption Camp) along Lagos - Ibadan expressway.

Interested individuals should send their expression of interest or quotation to la_bahiq@yahoo.com and tura_crescent@yahoo.co.uk on or before Saturday 27th February 2021.

Enquiries
07043348243
0808 354 0466
0814 214 1075

They Should do whatever they like, they have the Power, and nobody can stop them or stand in their Way?

Meanwhile, PLEASE PLEASE PLEASE, If you have Already CUT Iron/Metal Scraps for Sale, like 5000 Tonnes, Pls whatsapp me through the Number In my Signature.
Thanks

Redoil:
sell it to who

let me guess

1. Tinubu

2. Alpha Beta Consulting

3. Oando

4. Bola Hammed

5. Bola Tinubu

6. Tinubu Hammed.


sentiment aside
whether the person stole or not any body who is willing and ready to purchase the refinery and make it work should be giving the opportunity to do so that the benefit will get down to the people in the long run.

methink it is time to force them to re invest their wealth in nigeria

Tinubu be giving you Nightmare You must twist every news to involve him

Please Someone Should Tell The Nigerian Goverment When They Are Ready To Sell It Citizens They Should Pls Sell Me Exclusively To The Qatar Royal Family.
I Cannot Come And Kill Myself To Become Patrotic Nigerian..
But I Promise To Be Of Good behaviour In Qatar

Fulanis

Nigeria or Buhari?
Buhari is nothing, but a man-made disaster that happened and is still happening to Nigeria.

They should also sell "Ass-hole" Rock to in order to fund the budget.....
Arrant Nonsense and Buhari!

Upton:
Ah. Nigerian government will start selling citizens to fund 2022 or 2023 budget

You are on point.

This Nigerian government can do anything to kill its own citizen.

Plz all of you lot should ask yourselves.what your reaction was when GEJ proposed to sell the refinaries

Very soon everybody wey no be polithiefcian go turn slave for this country......

[img]https://media1./images/182abd956ccbe865425e14a152cea455/tenor.gif[/img]

Clamp down on dormant account.

Sale of properties...

Reduction of gost workers in the workforce...


Still things is moving from bad to worse.


I guess leaving this country is the way forward.

This country no dey buy,na so so sell sell

This is what politicians like bidding for

You kuku sell NIGERIA as a country. But please look for a better buyer.

The present APC Buhari government have shown their incapability in managing numerous government sector , i strongly believe their will sell those government assets base on ethnicity , party affiliation, Fulanisation consideration, religion base and incompetency .

Lol.