Don’t Sell NLNG or other critical assets, RMAFC Advises FG - Politics

Don’t Sell NLNG or other critical assets, RMAFC Advises FG - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Don’t Sell NLNG or other critical assets, RMAFC Advises FG (10896 Views)

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Don’t Sell NLNG or other critical assets, RMAFC Advises FG by DaudaAbu(op): 10:03pm On Sep 20, 2016

The Revenue Mobilisation Allocation and Fiscal Commission on Tuesday said that Nigerian Liquefied Natural Gas and other federation assets should not be sold to meet the country’s financial obligations.

The commission’s Acting Chairman, Alhaji Shettima Abba-Gana, was reacting to Alhaji Aliko Dangote’s suggestion that the country`s assets be sold off to augment the current revenue shortfall being experienced by the nation following the economic recession.

Abba-Gana, in a statement, said it would be unwise for the Federal Government to dispose of its crown jewels which were generating revenues and keeping the Federation Account healthy over a long term.

He cited the NEITI 2013 Audit and Financial Report of Nigeria’s oil and gas industry, adding that 12.9 billion dollars was received by the NNPC from NLNG over an eight-year period.

He added that the NNPC, however, did not remit the amount to the Federation Account, saying that the audit showed that NLNG paid 1.2 billion dollars as dividends for 2013.

He said, “It is the considered view of the commission that Nigeria’s assets like NLNG and other strategic national resources should not be sold to meet short-term financial obligation.”

He said that the amount needed from the sale of the assets could be borrowed from the International Monetary Fund.

He added that revenue from the assets could be used to amortize the loans over an agreed period.

He further said that after the amortisation of the loans, the assets would still be owned by the federation in addition to their regular dividends and revenue.

Abba-Gana, therefore, advised that instead of selling off such vital assets, wealthy Nigerians should be encouraged to set up their own LNG projects.

Nigeria is ranked seventh in the world and first in Africa with natural gas reserves base totaling 188 trillion cubic feet (Tcf) as at May 1, 2015.

Nigeria’s natural gas is regarded as one of the best in the world with low hydrogen sulphide (H2S) or carbon dioxide (CO2) impurity levels.

NAN

http://punchng.com/dont-sell-national-assets-rmafc-advises-fg/

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Allwility: 10:10pm On Sep 20, 2016

That's a good call. I can't say for certain if Dangote's remark was made with the nation's best interest at heart.

Meanwhile, as for Aliko................

32 Likes 3 Shares

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by DaudaAbu(op): 10:19pm On Sep 20, 2016

Meanwhile , saraki at the resumption of plenary today also want the "national assets sold"

In order to have "more money injected into the economy"

https://www.nairaland.com/3360743/nigerians-need-solutions-not-cause

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by pedel: 10:25pm On Sep 20, 2016

These cabals will never rest untill they buy and sell everything Nigeria.
APC = PDP. The parties are all the same. I only pity 'the wayler and the ZoneBs'

The next thing that will happen is that they are going to sell all national assets to the cabals in power.
Tinubu will get the Federal Secretariat in Ikoyi and so on.
The Prison system will be privatised

The Nigeria project is a scam. Pray for yourself to be able to breakthrough inspite of all the hardship the politicians brings upon the nation.

If I hear any of you support either APC or PDP on this post, you will not survive the recession with your household.

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Standing5(m): 10:27pm On Sep 20, 2016*

Good advice. Why sell what is earning you money and saving you forex loss? If all those assets are sold today at say $20b the buyers will very likely be repartriating $2.5b/year in profits for the next 20 years. Instead use the money it is saving you wisely. It just like a father who wants to sell his business/equipments to settle his accumulated, bills. After settling the bill, what is he going to trade with?

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by sarrki(m): 10:28pm On Sep 20, 2016

is RMAFC different from Federal Govt ?

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Standing5(m): 10:34pm On Sep 20, 2016

sarrki:
is RMAFC different from Federal Govt ?

They work for FG and not Dangote.

pedel:
These cabals will never rest untill they buy and sell everything Nigeria.
APC = PDP. The parties are all the same. I only pity 'the wayler and the ZoneBs'

The next thing that will happen is that they are going to sell all national assets to the cabals in power.
Tinubu will get the Federal Secretariat in Ikoyi and so on.
The Prison system will be privatised

The Nigeria project is a scam. Pray for yourself to be able to breakthrough inspite of all the hardship the politicians brings upon the nation.

If I hear any of you support either APC or PDP on this post, you will not survive the recession with your household.

Dangote isn't APC or PDP. He has a permanent interest just like them.

17 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by aventura: 7:55am On Sep 21, 2016

Ignorance everywhere. What's the point of having a rolls royce and being broke. The problem people have with this dangote disposition is
1) a perspective problem
2) bad belle

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by majoh163(m): 8:00am On Sep 21, 2016

Dangote wants to buy NLNG

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by otukpo(f): 8:02am On Sep 21, 2016

This APC government wants to finish Nigeria before they finally leave.

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by aventura: 8:02am On Sep 21, 2016

majoh163:
Dangote wants to buy NLNG

it doesn't have to be Dangote. Either Dangote or someone like Dangote. Bottom line is that those assets need to be sold.

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Rexphobia(m): 8:05am On Sep 21, 2016

Before you decide.. Ask yourself, which of our national assets sold have become optimized after the disposal...?

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Junior66(m): 8:05am On Sep 21, 2016

Ok o[color=#990000][/color]

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by NNVanguard(m): 8:05am On Sep 21, 2016

What confidence do we have that of these assets are sold that the money won't end up in leaking pockets?

The cabals holding this nation at ran some will simply buy these assets off and in no distant time we will be back to square one!

#saynotosellofnlng

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by aventura: 8:06am On Sep 21, 2016

"Government has no business building or owning factories or companies, what they should be doing is collecting taxes from this privately owned firms" ...Dangote

This is the most intelligent advice I've heard all week.

4 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by buchilino(m): 8:06am On Sep 21, 2016

pedel:
These cabals will never rest untill they buy and sell everything Nigeria.
APC = PDP. The parties are all the same. I only pity 'the wayler and the ZoneBs'

The next thing that will happen is that they are going to sell all national assets to the cabals in power.
Tinubu will get the Federal Secretariat in Ikoyi and so on.
The Prison system will be privatised

The Nigeria project is a scam. Pray for yourself to be able to breakthrough inspite of all the hardship the politicians brings upon the nation.

If I hear any of you support either APC or PDP on this post, you will not survive the recession with your household.

IN FACT U WILL FIND WATEVA UR LOOKING 4 B4 D END OF DIS WEEK. DIS HAS ALWAYS BEEN MY ARGUMENT ALONG. I ONLY WISH AT LEAST 51% OF NIGERIANS REASON LIKE U.

10 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Junior66(m): 8:07am On Sep 21, 2016

I rather go with an astute business man. The only problem with the FG that I see is mismanagement of funds. Even if we 1trillion dollars today we may still be in recession cos of graft and mismanagement.

4 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by izzou(m): 8:08am On Sep 21, 2016

Dangote has never had love for his country. He just seizes any slightest opportunity and makes good use of it

Am not saying its bad, but it shouldn't be called love

Instead of telling us that he need nlng, he is suggesting we sell it. Why didn't he just tell us how it would be profitable to the economy if managed well?

He is a man with foresight anyway. I commend him for that cool

4 Likes 1 Share

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by seguntijan(m): 8:08am On Sep 21, 2016

If we borrow $15b at 20% interest we will pay conveniently in 15yrs using NLNG profit as collateral. So why advise we sell. Selling NLNG is way too small! Sell him Nigeria and add the Atlantic to it! Make it legal and let all of us be in indentured servitude while we struggle for free passage into Dangote Republic where it is all deregulated free market capitalism or its first cousin - neoliberalism. That is better! Stupid!

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by papadjaji: 8:09am On Sep 21, 2016

aventura:
it doesn't have to be Dangote. Either Dangote or someone like Dangote. Bottom line is that those assets need to be sold.

Someone said "they steal because we ordinary Nigerians do not stone them".

Can 100 people volunteer to stone these national treasure rapists call saraki n co for making such anti national statement? They must have had series of meetings before coming out with this infuriating statements. Joking abt the stoning thou, but we need to do something guys...

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by seguntijan(m): 8:09am On Sep 21, 2016

DaudaAbu:
Meanwhile , saraki at the resumption of plenary today also want the "national assets sold"

In order to have "more money injected into the economy"

https://www.nairaland.com/3360743/nigerians-need-solutions-not-cause

Do you see the correlation, Saraki is just there to frustrate APC government

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by koladebrainiac(m): 8:10am On Sep 21, 2016

Government have other sources of revenue n not the selling of resources is the last result. Dangote only said that coz its what he wanted all along. He even set the price at 15bilion dollars for Nigerian. Government cant do that . kuku Borrow 15bilion dollar from IMF.n get enough money from oil sales. Ofcourse they have Niger Delta to settle with. Sale of Nlng will be huge mistake.

4 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by armadeo(m): 8:10am On Sep 21, 2016

Dangote wan buy nlg he used style advice for them to sell am to him.

Sensible man.

2 Likes 1 Share

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by laffwitmi: 8:12am On Sep 21, 2016

What is there to finish again? Flattie, ur ogogoro master and his buffalo wife had already finished this country ...

otukpo:
This APC government wants to finish Nigeria before they finally leave.

1 Like

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by papadjaji: 8:12am On Sep 21, 2016

seguntijan:
Do you see the correlation, Saraki is just there to frustrate APC government

Just wondering who treats an illness without knowing the source or root of such ailment. If a man who is supposedly number three citizen is a con man, then, we should stop dreaming of a better tomorrow (cos we are now in the kind of darkness that existed be4 God's creation.

Nobody should be surprised if we wake one morning and find out that Nigeria has been sold. cry

No be only solution, he for add ORT join to make am ORT (sugar/salt) solution undecided

3 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Nairadays: 8:13am On Sep 21, 2016

Dangote want's to buy. Am sorry to say, that Dangote's advise is like the picture below when a pitch invader tries to feed Arsene Wenger.

http://www.nairadays.com/2016/09/21/pitch-invader-tries-to-feed-arsene-wenger/

https://www.nairadays.com/wp-content/uploads/2016/09/pitch-invader-tries-to-offer-wenger-food.jpg

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by emerged01(m): 8:13am On Sep 21, 2016

Should asset be sold to solve Nigeria challenges? Even after assets sales,with bad leaders we will still be where we are. I believe govt is about to make huge mistake selling those assets.

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by collyno1985: 8:14am On Sep 21, 2016

That's a good advice, meanwhile that dangote is a criminal, all he ever wanted us to sell nigeria and put it on his own pocket.
But our God will disgrace him.

1 Like

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by iamyet: 8:16am On Sep 21, 2016

FG should sell part of our stake in NLNG via the capital market, this way we can raise fund, boost the capital market and also prevent the cabals from taking ownership of the shares we are selling. The main income from NLNG is in taxes and sale of shares won't affect that line of income.

We also need to liquidate some of the funds tied in JVs

4 Likes

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by gurunlocker: 8:16am On Sep 21, 2016

Lol.... Dangote wey wan buy Nigeria.

1 Like

Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by moufan: 8:18am On Sep 21, 2016

it would definitely be a dumb and an unwise move to sell off Nigeria's assets. the economic team should learn from the way other developed countries overcame recession

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Re: Don’t Sell NLNG or other critical assets, RMAFC Advises FG by Frank3n2(m): 8:21am On Sep 21, 2016

*in ice prince voice* Dangote my guy grin

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