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FG, governors approve sale of national assets

23 September 2016, 10:14

Abuja - The National Economic Council, which comprises Vice-President Yemi Osinbajo and 36 state governors, has endorsed plans by the Federal Government to sell some national assets as part of efforts to address the current economic recession in the country, Punch reports.

The Senior Special Assistant to the Vice-President on Media and Publicity, Laolu Akande, said in a statement that the sale of national assets was one of the recommendations of the Minister of Budget and National Planning, Senator Udo Udoma (SAN), during the National Economic Council meeting on Thursday.

Other recommendations, he stated, included the diversification of the economy and the use of recovered loot.

The statement added that as part of measures to revive the economy, “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 licences renewal, infrastructural concession, use of recovered funds etc. to reduce funding gaps; and implementation of fiscal stimulus/budget priorities.”

The government also wants to “fast-track procedures through legislation and implementation of Strategic Implementation Plan of the budget; and engage in the meaningful diversification of the economy and cut down importation.”

In her presentation, the Minister of Finance, Kemi Adeosun, revealed that the balance of the Excess Crude Account was $2.453bn as of September 20, 2016.

On the budget loan support facility for the states, Adeosun told the council that N50bn had so far been disbursed to the state governments.

Meanwhile Organised Labour, on Wednesday rejected the clamour for the sale of national assets such as the Nigeria National Petroleum Corporation, NNPC and Nigeria Liquefied National Gas Company, NLNGC, among others according to News24.

The group described the calls as not only evil but, unpatriotic aimed at continuous enslavement of Nigeria.

- News 24


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