These are the 2 conditions under which FG will sell properties
The FG said that it would sell the assets to raise much needed funds to end the recession.
Nigeria's Finance Minister Kemi Adeosun speaks at a news conference in Lagos, Nigeria, April 9, 2016. REUTERS/Akintunde Akinleye
Recommended articles
The FG earlier said that it had no choice but to sell the assets in order raise much needed funds to end the current recession.
The two conditions are: 1. Insertion of a repurchasing clause in the assets sales agreements and 2. No outright sale of assets in question.
“The Federal Government has no plan to sell off its shares outright in the LNG, where it owns 49% shares. The balance 51% is owned by private foreign interests. The Federal Government doesn’t own the entire gas company and will certainly not sell off its entire shares, but it’s open to the possibility of selling down its 49% ownership by 5% or thereabout,” a Presidency source told The Nation.
ADVERTISEMENT
“Just as in other potential asset sales, there would be a repurchase option that guarantees the Federal Government’s opportunity to buy back any such assets if circumstances change anytime in the future,” the source added.
Meanwhile, Finance Minister, Kemi Adeosun has responded to critics of the assets sale saying that even Saudi Arabia is selling assets to raise funds.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure
Plateau University suspends exams over killing of student
Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma
APC group claims Tinubu’s initiatives stimulating economic recovery
Plateau Gov urges calm after attack that led to death of 200-level PLASU student
NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product
Gov Adeleke lavished with praise for providing water, sanitation facilities
CSO inaugurates campaign to combat electoral irregularities, promote reforms
Lagos arrests 10 fake officials for carrying out unauthorised enforcement
Pulse Sports
Lionel Messi's son breaks the internet after scoring five goals for Inter Miami
Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe
Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024
ADVERTISEMENT
