The National Economic Council, which comprises Vice-President Yemi
Osinbajo and 36 state governors, has endorsed plans by the Federal Government
to sell some national assets as part of efforts to address the current economic
recession in the country. The Senior Special Assistant to the Vice-President on
Media and Publicity, Mr. Laolu Akande, said in a statement that the sale of
national assets was one of the recommendations of the Minister of Budget and
National Planning, Senator Udo Udoma (SAN), during the National Economic
Council meeting on Thursday. Other recommendations, he stated, included the
diversification of the economy and the use of recovered loot. The statement added that as part of moves to revive the economy,
the President’s Economic Management Team is working on plans to generate
immediate larger injection of funds into the economy. Through assets sales,
advance payment of licenses renewals, infrastructure concession, use of recovered
funds etc to reduce funding gaps and implementation of fiscal stimulus/budget
priorities. The government also wants to “fast-track procedures through
legislation and implementation of Strategic Implementation Plan of the budget;
and engage in the meaningful diversification of the economy and cut down
importation.”
Trade Unions/Nigerian Labour Congress Disagree on Assets Sale
The
Nigeria Labor Congress, Trade Union Congress of Nigeria and the Nigeria Union
of Petroleum and Natural Gas Workers, in separate statements on Thursday,
described the advice given by the Senate President, Dr. Bukola Saraki, Emir of
Kano, Alhaji Muhammadu Sanusi and Aliko Dangote as selfish and not in the
national interest.hey pledged to resist any further sale or concession of
national assets under the guise of fighting economic recession. The President
of NLC, Ayuba Wabba, said government’s investments in the LNLG and Joint
Venture oil upstream operations were profitable and should be preserved for the
future. Wabba said, “It is on record that dividends, in excess of $1bn, have
accrued annually to the national coffers from the gas company over the past 12
years. These calls are more worrisome when one considers the history of
sovereign assets divestiture in the past. Where are the proceeds from
sales of the assets in the power sector for instance? Popular (SAN) Lawyers
Femi Falana and Dr Olisa Agbakogba have called the process illegal and unnecessary,
respectively. The Nigerian Labour congress alleged that instead of selling
Prime National assets like NLNG (Nigerian liquefied Natural Gas) and NNPC (Nigerian
National Petroleum Cooperation) they advised the FG's National Executive Council to consider selling the following
national assets:
1.
PHCN (AKA NEPA)
2.
Ajaokuta Steel rolling mill
3.
National theater
4.
National Museums
5.
All National Stadiums
6.
Nigerian Railway Cooperation
7.
Nigerian Television Authority
8.
Nigerian Broadcasting cooperation
9.
All Nigerian Museums, monuments and zoos.
10.
Presidential fleet
Do you think any assets should be sold and which assets would u prefer being sold?
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