To Sell Or Not To Sell? Nigeria’s Government Weighs Decision Over National Assets

Nigeria Minister of Budgets and National Planning, Udo Udoma, has disclosed that Nigeria has no plans to sell national assets as a panacea for the current economic recession ravaging the country. Udoma made this disclosure ahead of the upcoming Nigeria Economic Summit.

Some Nigeria including Africa’s richest man Aliko Dangote and President of the Senate, Bukola Saraki had called on the government to sell-off capital-intensive but dormant establishment in the country.

Kicking against the call, the minister explained that government’s main strategy is to implement capital projects in the 2016 budget and source for funds to reflate the economy.

He said government appreciated that the down-turn in the economy has brought hardship to the people, adding that they are committed to redressing the situation.

“Our goal is to unlock the economic potentials of the non-oil and high-employment sectors, so as to achieve a sustainable inclusive growth that will ensure that the majority of Nigerians become more productive, thereby reducing poverty,” he said.

Udoma reiterated that the strategy is to reflate the economy through fiscal stimulus and strategic implementation of annual budgets.