Senate recommends sale of national assets to tackle recession | Nigeria News Today. Your online Nigerian Newspaper

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The President of the Senate, Bukola Saraki has recommended the sale of some national assets and the utilisation of proceeds for infrastructure development.


This, he said, was necessary for the nation to fight it’s way out of the current recession.

Saraki said this in his welcome address to Senators at the resumption of plenary on Tuesday.



He said, “The Executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilise the economy.

“The measures should include part sale of NLNG Holdings; reduction of government share in upstream oil joint venture operation; government stake in financial institutions, e.g, African Finance Cooperation; and the privatisation and concessions of major/regional airports and refineries.”

The Senate President also urged the President Muhammadu Buhari-led executive to among other things engage in meaningful dialogue with those aggrieved in the Niger Delta.

However, the House of Representatives members barely sat for 40 minutes before adjourning plenary for the day.

The Speaker, Yakubu Dogara, announced the demise of three former and one serving member of the House after which he called for Christian and Muslim prayers for the repose of the souls of the departed.

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  1. These apc people are bundles of brainless idiots. As some Nigerians have started exchanging their children for rice so the only solution unq can think about is to extent such to selling of sour common wealth kwo!A? So that una go share the proceeds through budget basing and co tract inflation abi!. I am afraid that by the time this useless APC government finish with Nigeria there will be nothing like the country.
    Change dole ! Sai Baba!.

    ReplyDelete
  2. The voice of Saraki, the hand of Dangote. ASO ROCK FOR SALE TO THE HIGHEST BIDDER! !! !!! Nigeria is finished. Anything to hope for?

    ReplyDelete
    Replies
    1. It would be absolutely crazy for the government to sell its stake in NLNG - the best-run, best-governed, and most profitable energy venture the country currently has. Dangote is eyeing the NLNG - he wants to buy the government's stake in it. We must resist it. It is selfish.

      However, outright sale of all the refineries which have become a drain on the nation's economy would be a good move. Even if the government gives those refineries free to the staff unions (NUPENG and PENGASSAN) who are always up in arms against the sale, the country would be better for it. Let the Unions find partners, give the refineries to them with the condition that they do not re-sell them but that they get them to work and not seek any government funding for their operation.

      Delete
    2. stealing by trick,
      instead they should reduce the number of senators and reps by a third and eradicate constituency project, thats 500b naira a year

      Delete

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