Thursday, 29 September 2016

Proposed Sale Of Assets As ‘A Mere Speculation



The Federal Government has described as mere speculation, talks of a proposed sale of national assets for the purposes of getting Nigeria out of recession, saying government is ‎yet to take a decision on the matter.

Speaking to State House correspondents after the Federal Executive Council meeting, the Minister for Information and Culture, Alhaji Lai Mohammed, said it was only discussed and endorsed as a Medium Term Expenditure Framework and remains a suggestion but not a solution decided upon by government to rebound the economy.

Contrary to reports that government has already listed conditions that must be met before the sale of certain national assets, top among them the insertion of a buy-back clause in the assets sales agreements, the Information Minister says government is yet to reveal elaborate plans to take the country out of recession.

The National Economic Council headed by Vice President Professor Yemi Osinbajo had last Thursday proposed and endorsed plans to sell some national assets, in line with government’s target to raise between ten to fifteen billion dollars to revamp the economy, following the drop in the nation’s monthly foreign earnings to about three hundred million dollars.

The proposed sale was swiftly rejected by the Senate in a thorough debate at its plenary, just as the Nigeria Labour Congress (NLC) threatened to embark on mass protest against the proposed sale.‎‎

The Federal Executive Council meeting also approved three memos; the National Water Policy, the National Irrigation Policy and a draft National Water Resources Bill all aimed at tackling the numerous water challenges in the country.

The Water Resources Minister, Mr Suleiman Adamu, is positive that the three bills and policy will help Nigeria bridge the gap in the sector and enhance Nigeria’s current agricultural production agenda and the National Irrigation Policy Roadmap 2030.
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