BREAKING! Nigerian Senate Opposes Sale Of National Assets

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Senate Rejects 2 Non-Career Ambassadorial Nominees, Confirms 45 Others

The Nigerian Senate has on Tuesday rejected the proposed sale of national asset by the President Muhammadu Buhari led government.

MUST READ: National Asset: To Sell Or Not To Sell?

The decision was agreed on at the resumed plenary after extensive deliberation in Abuja.

It would be recalled, the Senate President, Dr. Bukola Saraki, had last week in his address to lawmakers suggested that the executive should raise capital from the sale of the nation’s assets and other sources to shore up reserves.

However, the federal lawmaker today passed a recommendation opposing the sale of government’s assets.

READ ALSO: Saraki Outlines 12 Steps Buhari Must Adopt To Take The Economy Out Of Recession

The lawmakers further ratified a recommendation that the National Assembly should amend Section 162 of the Constitution to give legal backing to the executive to save money for times of economic slump?

The proposed sale of the national by the Buhari administration has been met with a chorus of approval from a segment of the cognoscenti in the country, while many other prominent persons and unions have gone against it – arguing that previous sales barely helped the nation’s economy.

READ ALSO: Sell NLNG, Invest Proceed And See If We Won’t Be Out Of Recession By December – Dangote Tells FG

The government has suggested that if it eventually adopts the policy, it would insist on a re-purchase clause.

More details to be added as the story develops…



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1 comment

  1. Selling a few national stadiums is a very good idea, because most of them are in dilapidated conditions. Private firms will be in good positions to managed the structures and make them profitable. This will be a win-win deal, with both parties happy.
    But selling NLNG is a BIG no, because this is one of the reliable sources of income the country has. We just have to start getting our decisions right in this country, so as to get out of recession.
    Nigeria Gossip News

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