FG To Sell Refineries, Other National Assets To Fund 2021 Budget

Niger Delta Coalition Warns Buhari Against Continued Delay Of Substantive NDDC Board

The President Muhammadu Buhari-led Federal government is proposing to sell or concession no fewer than 36 national assets to raise funds to finance the 2021 budget.

According to a Premium Times report, the properties cut across energy, industries, communication and infrastructural sectors.

They assets are expected to be sold or concessioned between January 2021 and November 2022.

According to the report, a document was submitted to the National Assembly by the Executive and titled “NCP Approved 2021 Work Plan.” It shows the names of the “projects” (as described by the document), the sale strategy, the duration of the process as well as the cost of the properties.

Top among these properties are the Abuja Environmental Protection Board (AEPB), the Abuja International Conference Centre (ICC), some unnamed refineries, the Transmission Company of Nigeria (TCN), Abuja Water Board, Nigerian Film Corporation, among others.

The federal government’s decision to sell or concession these properties is to help fund the N13.58 trillion 2021 budget signed by President Muhammadu Buhari on December 31, 2020.

There are, however, different sale strategies for the properties. While some are ‘core investor sales’, a few others are for ‘share sales’. Some are for ‘concessioning’ and others for ‘full or partial commercialisation’.

The proposed national assets include the Yola Electricity Distribution Company, Zungeru HydroPower, Transmission Company of Nigeria, Refineries, Lagos Intl Trade Fair Complex among others.


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