Falana reacts to plans to sell national assets | Nigeria News Today. Your online Nigerian Newspaper f

Foremost Human Rights Lawyer, Femi Falana has described the call for the sale of National assets as illegal and against the constitution of the Federal Republic of Nigeria.

Falana said this in his latest article titled: “Sale Of National Assets Is Illegal”, citing constitutional and historical references.

Recall that Senate President, Business magnate, Aliko Aliyu Dangote including the Central bank Governor have called for the sales of Nation's assets to revive the ailing economy.

But Mr. Falana in the article said: “The sale of national assets is in total conflict with section 16 of the Constitution, which has prohibited the concentration of the nation's wealth in the hands of a few people or a group.

“It is pertinent to point out that the suggestion is in total conflict with section 16 of the Constitution which has prohibited the concentration of the nation's wealth in the hands of a few people or a group".

“Indeed, by section 44 of the Constitution, the nation's natural resources shall be held in trust for the Nigerian people by the federal government. One would have expected senators who swore to protect the Constitution to kick against the suggestion to sell the assets of the nation to a few people.

“But for selfish considerations a few legislators who may be queuing up to participate in the purchase of the nation's assets are not prepared to defend the Constitution.

“If the Senate is genuinely desirous to contribute meaningfully to the debate on the economy it should, as a matter of urgency, propose a substantial reduction in the jumbo emoluments of federal legislators which are said to be the highest in the world”, Mr. Falana said.

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  1. I feel very glad to congratulate you on your astute knowledge of the Nigerian constitution.

    However I will need you to check the constitution and tell us what it says about waste of national resources.

    How properly managed are these national assets. We spend huge sums of money on them with little or absolutely nothing to show for it.

    If they can be sold to individuals who know their business, who can turn them around, the nation earns needed resources from them, and they continue to provide those functions for which they were established wouldn't that be a plus to d nation.

    Not everything is written in black and white sir. Sometimes you just have to think outside the box.

  2. Northerners no longer have a consistent stream of petrodollar income flowing from oil wells. In their sublime "wisdom" it is business as usual to sell off the physical proceeds (infrastructure) of the oil industry. Appears that the newly discovered Yoruba oil wells are a source of conflict between the two predominant ethnic groups. Niger Delta oil had been cakewalk to seize. As the Northerners cannot play the Yoruba man over his property (new oil), they are bracing up to control the industry upstream to maintain hegemony of downstream from Niger Delta wells. The Yorubas with foresight are also fighting for their space, hence the new call for "national" asset sale. The end losers will be, as always, Southeast and more so the South-south, whose eyes have been covered with wool since amalgamation. How many Nigerians, apart from the Dangotes, Atikus, Otedolas, Tinubus can own shares in all of these, given the intrigues of major players that will be at play? Nigeria is getting more interesting by the day.

  3. Do we have legislators? Niet! Often I ask myself who does the thinking for PMB, honestly. How does he expect people who are potentially prison inmates to refund stolen funds in the face of such a profitable venture as this (national asset sale)? They have not kicked against the idea as suggested by Falana. No, they will not, and no they will rather buy stakes with the stolen monies of this country than to give up their stash. Is Buhari's anti-corruption campaign therefore not suspect, if not counterproductive?


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