FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget (708 Views)
| FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by dominic17(op): 8:35pm On Oct 07, 2022*. Modified: 9:13pm On Oct 07, 2022 |
Some national assets have been earmarked for sale to generate revenue to fund the 2023 Budget and pay off debt Already 42 assets across the country have been put up for sale across different sectors President Muhammdu Buhari on Friday presented the 2023 budget to the National assembly The Federal Government had made it clear that it would sell or give some national assets to raise funds to finance the 2023 budget deficit of N10.78 trillion. The Punch reports other ways the federal government is looking to raise revenue for the budget are through borrowing and project-specific loans. President Muhammdu Buhari revealed the plan on Friday while presenting the Appropriation Bill of N20.51 trillion for 2023 to the Senate and the House of Representatives. Federal government seeks to sell national assets President Muhammdu Buhari presents National Budget Credit: Presidency The budget includes N2.42 trillion in spending by government-owned enterprises. It is also about N3 trillion higher than the 2022 budget. National Assets for sale in 2022 Earlier in the year the Bureau of Public Enterprises (BPE) announced the sale or concession of 42 assets across the country. The Vanguard reports that some of the listed assets include the Aluminium Smelter Company of Nigeria (ALSCON) and Olorunsogo II Power Plant, among 42 transactions to be undertaken this year. The transactions are 11 in the Energy Sector, 10 in the Industries and Services Sector, eight in the Agriculture and Natural Services Sector, and 13 in the Infrastructure and Public Private Partnership (IPPP) sector. Full list Olorunsogo II Power Plant (NIPP) Calabar II power plant (NIPP) Benin (Ihovbor) II Power Plant (NIPP) Omotosho II Power Plant Benin (Ihovbor) II Power Plant (NIPP) Omotosho II Power Plant (NIPP) Geregu II Power Plant (NIPP) Afam Power and Afam Three Fast Power Ltd Yola Electricity Distribution Company Zungeru Hydro Power Nigerian Film Corporation NITEL/MTEL In-liquidation Abuja Water Board (AWB); Abuja International Conference Centre Abuja Environmental Protection Board (AEPB) Save Sugar Company (SSC) – Divestment of FGN Shares Nigeria Hotel Ltd (In-Liquidation) Partial Commercialisation of River Basin Development Authorities (RBDAs). Concession Those for concession include of Tafawa Balewa Square Complex, (TBS) LAGOS; Lagos International Trade Fair Complex (LITFC), Lagos as well as Calabar & Kano Free Trade Zones. Full Commercialisation of the Federal Housing Authority(FHA) and the Federal Mortgage Bank of Nigeria (FMBN) would be undertaken. The federal government also planned to recapitalize the Bank of Agriculture (BOA); while pursuing the reform of the Health .and Education Sector. New projects would include Gimi Earth Hydro Power Plant; Lower Usuma Hydro Power Plant; Oyan Hydro Power Plant; Sale of the remaining non-core assets of NCC. Non-core assets approved for sale Take-off of Nigerian Mining Investment Holding Company (NMIHC) Royal Swazi Sugar Company (RSSC) Sales of non-core assets of Delta Steel Company Establishment of Passport Application Support Centres Markurdi Hydro Power Plant Hydro Power Plants Assets for Concession Oguma Hydro Power Plant (700mw) Onitsha Hydro Power Plant (441mw) Dasin Hausa Hydro Power Plant (138mw) Katsina-Ala Hydro PowerGarin Dalli Hydro Power Plant (92mw) Kiri Hydro Power Plant (36mw) Assets Optimisation – Creation Of A National Asset Register. The list of African countries with the highest debt to China, amount and what the debts are used for Meanwhile, Legit.ng has reported that Macau is the only country in the world that is debt-free, according to the International Monetary Fund (IMF). The world’s greatest economies rank among the 20 countries with the highest external debts. According to a Daily Trust report, they are the US, Russia, United Kingdom, France, Germany, Japan, and China. Source: Legit.ng |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Nobody: 8:37pm On Oct 07, 2022 |
Legally |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by nansia: 8:39pm On Oct 07, 2022 |
Smiles |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Kagarko(m): 8:40pm On Oct 07, 2022 |
dominic17:That's the beginning of the end. God Bless Nigeria and Nigerians. |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Kosoco(m): 8:50pm On Oct 07, 2022 |
They will still go and buy it.... |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Eriokanmi: 8:52pm On Oct 07, 2022 |
Ijoba apa. |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Ebubu: 9:05pm On Oct 07, 2022 |
as FG broke like this, na em ASUU dey ask for 1 trillion naira  |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by dominic17(op): 9:15pm On Oct 07, 2022 |
Final Cash out if you know you know. |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by richidinho(m): 9:19pm On Oct 07, 2022 |
No serious asset from the north |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by orisa37: 3:55am On Oct 08, 2022 |
Don't sell those ASSETS please. |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Dvdpity: 5:15am On Oct 08, 2022 |
This country is gone. No developing country sells their assets to private ownership without proper regulations and standard policy. |
| Re: FG To Sell Some National Assets To Pay Off Debts, Fund 2023 Budget by Danisaint112(m): 5:34am On Oct 08, 2022 |
The next president will suffer Sha. But with Obi the right path will be set. If Obi doesn't win. Omo na to process my Visa with the speed of of light. Go join my uncle for Turkey for the meantime. Na to jejely jakpa. I no come this life to suffer abeg.  Ihordspyand pandoraobithe Jaja Jaja bands members what do you have to say about this? |
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