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Planned sale of national assets to fund 2018 budget wrong - Shehu Sani

Planned sale of national assets to fund 2018 budget wrong - Shehu Sani

- Shehu Sani says it is wrong to decide to sell national assets just to fund the 2018 budget

- Sani, a senator on the platform of the APC, calls on President Muhammadu Buhari to halt the decision

- Some of the assets have been reportedly penciled to be sold in September while others would be sold in October 2018

The senator representing Kaduna Central, Shehu Sani, on Tuesday, September 25, declared that it is wrong for the Muhammadu Buhari government to decide to sell national assets to fund the 2018 budget.

Sani expressed his opposition to the reported decision in a tweet.

“The reported decision of the BPE to sell off 10 state owned firms ‘to fund the budget’ is wrong.

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“I’m ideologically opposed to it. It will end up like the sale of power holding companies, enriching a few and without service delivery. I call on the president to stop it,” Sani, a member of the All Progressives Congress (APC) said.

Bloomberg had reported that Joe Anichebe, a director at the Bureau of Public Entreprises (BPE), announced that the federal government might put up 10 state-owned companies for sale in the fourth quarter of 2018 to raise N289 billion for the funding of the 2018 budget.

According to Anichebe, preparations are in the final stages for the sales of the companies which range from aviation to insurance.

Bloomberg also reported that the first set of companies to be sold include Nicon Insurance Ltd and Skyway Aviation Handling Co.

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The report quoted the director as revealing that the assets would be sold either in September or October 2018, through an initial public offering.

Legit.ng earlier reported that the minister of budget and national planning, Senator Udoma Udo Udoma, said the federal government will borrow N1.6 trillion to finance part of the N9.12 trillion 2018 budget.

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Source: Legit.ng

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