Lai Mohammed

Proposed Asset Sale, Mere Speculation – Lai Mohammed

By Tony Nwanne

 The Federal Government has described the proposed sale of some national assets for the purposes of getting Nigeria out of recession as ‘mere speculation’.

 The Minister for Information and Culture, Alhaji Lai Mohammed, while speaking to State House correspondents after the Federal Executive Council meeting, 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.‎‎


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