Senate Rejects Sale of National Assets

The Senate today rejected a recommendation of its ad hoc committee on the state of the economy which recommended sale of National   assets as one of the steps to recovery from recession.

Senate President Bukola Saraki had only last week endorsed the suggestion by Africa’s richest man, Alhaji Aliko Dangote that the federal government should consider selling some of its assets to shore up foreign reserves.

The FG through the National Economic Council (NEC) headed by the vice-president, Prof Yemi Osinbajo had also expressed support for the notion that assets sale could help the country raise money to stimulate spending to reverse the recession.

Mrs Kemi Adeosun, finance minister  and Mr Udoma Udo-Udoma the budget minister, on Monday explained that only some assets would be sold under the plan and that the assets were yet to be identified.

However, on Tuesday at the plenary of the senate, as the ad hoc committee on the state of the economy headed by Senator Yahaya Abdullahi presented its report, a number of senators opposed the move.

Deputy Senate President Ike Ekweremadu restated his opposition to any plans to sell national assets simply to raise money for spending. His position was supported by Senate Leader Ali Ndume and a number of other senators.

"The senate oppose sale of National Assets to shore up Foreign Reserves" – Senate Leader, Ali Ndume

— The Nigerian Senate (@NGRSenate) September 27, 2016