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Sale of National Assets: Who said what?
#Ymonitorpoll: Nigeria at 56
4 October 2016
Ymonitor Infographics: State and Federal government debt stock as at 30th June, 2016
5 October 2016
Senator Bukola Saraki ( Senate President): “The executive must raise capital from asset sales and other sources to shore up foreign reserves. This will calm investors, discourage currency speculation and stabilize the economy. The measures should include part sale of NLNG Holdings; reduction of government share in upstream oil joint venture operation; sale of government stake in financial institutions e.g Africa Finance Corporation; and the privatization and concession of major/regional airports and refineries”
Sanusi Lamido Sanusi: “One option is to sell down some assets; sell down some refineries in a manner that does not hurt your strategic interest; sell down some oil assets; sell down some refineries in a transparent manner that gives you value. You can also have options to buy them back later. You should expect basically forex”
Shettima Abba Gana (Acting Chairman RMAFC) : He said the decision would be unwise, rather FG should secure loans from IMF and should pay back with revenues realized from the assets to pay back over a period of 10 or 20 years
NUC, TUC, PENGASSAN, NUPENG: reject call for the sale of national assets. NLC, TUC as well as oil workers vowed to resist the move. NLC call advocates “economic vampires that government must be aware of” and PENGASSAN, TUC said the proposal was a “self-destructive move”
Deputy senate president, Ike Ekweremadu: “I have heard about the issue of selling of our assets. I need to caution that other countries are not doing same. UAE does not even allow you to access the oil wells talk less of selling them. And of course, a country like Saudi Arabia, their budget each year is run by investments from their oil revenue. While other countries are investing and with all the investments we have, I am sure we will not be fair to the next generation. So, if we must sell, we have to sell the non- performing assets so that people can turn them around and create employment. We need to amend section 162 especially from 3,4,5,6 where each money in the federation account is enjoined to be shared among the other levels of government.”
NEC: “the president’s economic management team is working on plans to generate immediate larger injection of funds into the economy through assets sale, advance payment of licenses renewal, infrastructural concession, use of recovered funds et cetera to reduce funding gaps and implementation of fiscal stimulus/budget priorities”
Charles Soludo: Said the proposal is largely self-serving, it would only be a win-win for government and its private sectors collaborators with Nigerians and the economy as the losers.
Senator Shehu Sanni: Described proponents of sale of national asset as “economic predators and profiteers who want to take advantage of the situation in the country.
Obasanjo: “selling national assets during recession time like this is not a bad thing……..Government should sell 49% of NNPC”
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