Senate rejects sale of national asset

Nigerian Senate
Nigerian Senate

The Nigerian Senate has rejected the proposed sale of national asset by the federal government.

The Senate took the decision on Tuesday at the resumed plenary after extensive deliberation.

The Buhari administration has proposed the sell some asset to revive the economy. But many Nigerians are opposed to the plan, arguing that previous sales barely helped the nation’s economy.

The government has suggested that if it eventually adopts the policy, it would insist on a re-purchase clause.

More details later.


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  • agbobu

    THAT IS A VERY WISE AND VERY SMART MOVE AND IT IS CALLED QUANTITATIVE
    EASING. THIS WAS THE SAME SMART AND VERY WISE MOVE THAT PRESIDENT OBAMA
    USED TO SAVE THE AMERICAN ECONOMY AND THE ENTIRE WORLD ECONOMY FROM THE
    VERY TERRIBLE RESSESION HE INHERITED FROM THE PRESIDENT BUSH REPUBLICAN
    ADMINISTRATION. AS THE PRESIDENT BUHARI SAID THAT THERE WILL BE A BUY
    BACK OPTION, WHEN THINGS STABILISE. THIS IS A WIN WIN SITUATION FOR
    NIGERIA. WE THE PEOPLE THE MASSES SAY THANK YOU PRESIDENT BUHARI AND WE
    HAVE THE CONFIDENCE THAT YOU WILL REDEEM AND SALVAGE NIGERIA FROM THE
    MESS YOU INHERRITED FROM GOODLUCK JONATHAN AND HIS GOD FORSAKEN
    GOVERNMENT.

  • Rollingdollar

    Buhari is a man of EMPTY WORDS. What has he done with all the money recovered from looters, from the trillions in TSA, from the billions he got from China, from the billions from NLNG, from the billions he receives from blocking leakages, from the billions he receives from oil sales. Buhari is fraudulent. How many promises has he fulfilled. Name just one. Buhari is not fit to be called President of Nigeria, and I urge him to PLEASE resign.

  • Rommel

    Saudi Arabia just announced pay cuts across government employees across that nation,what does this reveal? we should be grateful that we elected PMB at this time,who knows what would have happened to Nigeria by now,perhaps worse than Venezuela maybe.I am in support of professor Soludo’s position on not selling as it is short term measure against recession.Government should intensify the anti corruption fight so that with the results it yields,the country can get out of the recession the corrupt ones plunged the nation into.

    • Ugo

      Deceived yourself and let PMB rule your family forever

    • deboye bobo

      Rommel :

      “The cuts, unveiled in a series of royal decrees and cabinet statements
      read aloud on state television, reduced ministers’ salaries by 20
      percent, slashed perquisites for members of the consultative assembly
      and limited overtime pay and vacation for civil servants.”

      ………………INTERNATIONAL NEW YORK TIMES

      • Does President Buhari cut his own Ministers’ salaries, perks and allowances in Nigeria,

      as Saudi Arabi did?

      • Does President Buhari direct any cut in Senators’ salaries and allowances?

      • Does President Buhari say he’ll discontinue the multi-billion Naira un-budgeted cash he plans to give

      (as dole) to Lai Muhammed next month, for a nonsense CHANGE BEGINS WITH ME CAMPAIGN?

      The answer to the three questions is, No! All that Muhamadu Buhari
      dreams of is how to take lucrative national assets (like NNPC and Liquefied
      Natural Gas company) and sell it at 20% the value to Aliko Dangote and Sanusi
      Lamido Sanusi. Is that how to fight recession or barefaced attempt at stealing
      by other means?

      • Peacenik

        GIVE BUHARI UP TO DECEMBER 31ST BEFORE DECIDING TO TROOP OUT AND DEMAND HIS RESIGNATION FOR INCOMPETENCE AS A CLEAR AND PRESENT DANGER TO THE ECONOMY.

      • Okokondem

        Well put, Adeboye. Buhari can start today by either directing his attorney general or appoint an independent council to vigorously investigate the allegations of budget padding as it would make no sense to secure the funds (whichever way) necessary to Kickstart the economy only to watch it “padded” so to speak by the men and women in the national assembly.

    • Höly Wähala

      You are not telling yourself the truth, you and I know that those assets once sold would be impossible to buy back without a lengthy court battle… Nigerians say NO to your thieving elite who want to rob us of our last collective patrimony. You are truly daft on simple economics and how govt. works… Again, go to proper school, Amnesty Program was a skills acquisition education. Olodo!

      • FreeNigeria

        LOL

      • Rommel

        You can’t even read,are you sure you understood what I wrote?

        • Höly Wähala

          Can’t read… are you trying to be funny or mere brain damage from ogogoro? Asshole!

          • emmanuel

            Rommel is from Arid Nigerian desert and they either drink the Chemical used for embalmment of corpses, spoke gum or inhale pit latrine.
            Ogogoro is more expensive than Chelsea or London dry Gin

          • Höly Wähala

            Hahahaha hahahaha chai… You don colo!
            You for mercy the fake oyinbo clown by eliminating the latrine water. We all supported Buhari going into the elections but a failure is a failure that’s what drunken sycophants fail to realize. Nor mind am… Oloshi ni.

          • emmanuel

            The man needs some flogging

    • FreeNigeria

      Selling of national assets is another show of shame by this brain dead administration. They’ve taxed and levied everything in Nigeria. Where’s the money? They said they’ve recovered billion of stolen funds, where’s the money? The little left over assets after OBJ sold almost everything, GEJ privatized NEPA and others, Where’s the Money? Buhari is brain dead, even if he sell the moon, stars, USA and UK, he still can’t manage the funds. He’s surrounded by politicians like him. Dead woods

      • Rommel

        I said no selling but that we should intensify the fight against corruption,proceeds from the fight will be more than money we will get from the sales

        • emmanuel

          Please re-read your post on this issue a week ago. Shame

          • Rommel

            I’ll be happy if you could show me the said post

        • Höly Wähala

          Fraudster… Another person don catch you and your dirty lies, go ahead and accuse him of being me. Career Liar!

          • Rommel

            My consistency has never been questioned by any genuine living thing,only disciples of Jonathan Goodluck who are probably dead do

    • IZON Redeemer

      Our Govt Don’t Know How Long Recession Will Last”. – Kemi Adeosun.

      Nigeria’s finance minister, Mrs Kemi Adeosun, who in an interview stated that the current economic recession in the country would soon be over has made a u-turn claiming that the incompetent Buhari’s government do not have a clue when the self inflicted economic recession will be over. The Fulanis just wanted to sell the oil refineries to their brothers from Mali and Senegal in Nigeria–such as Dangote—-and the Emir of Gwandu–Emir of Kano ati the Sultan of Sokoto—————Yesterday when late Alams wanted to purchase the refineries for the Niger delta people-Dangote–arti the Sultan of Sokoto mobilized to get him into jail via Obj–The Yorubas on almost lynched Jonathan when he tried to implement the sale of the refineries——now they back their Fulani Masters from Niger Republic to steal the only projects that will one day remind———————our kids that Nigeria once depended on the oil resources of the SS—to breath———–Separation is the only way out——————————————

      • Rommel

        Our lovely Kemi has always been very clear how Nigeria will get out of recession which in case you did not know we entered 2014 when Mrs Iweala started borrowing to pay salaries.

        • Höly Wähala

          Asshole, my bet is that you don’t even know that Kalamty Kemi has borrowed N4.2bn in just one year… What projects if not salaries did she use the funds for? Stop discussing the economy for you make a big pfool of yourself. Dundee!

          • Rommel

            With people like you,how can any country make progress?

          • Höly Wähala

            I don’t live in corruption like you… Get lost.

        • emmanuel

          A wise person hold on to income yielding Assets, borrow cheap funds to meet maturing obligations and repay from future incomes.
          Hear what happened, Kemi went to Europe two months ago for a Road show to float Euro Bond and she was sent back by investors to go rework her economy, open up FOREX Windows to enable them take their investments when they wish. Unfortunately, your types in your usual falsehood said her trip was a great success – blatant lies.
          The best option was to sell.
          Okonjo Iweala has an exceptional brain, courage, skills and dexterity in managing economic issues. Buhari came and shared NLNG monies which Iweala and Jonathan kept for the future without approval and you celebrated him. Meanwhile, the bad bonds issued by Sanusi to quarantine bad loans from Commercial banks are getting due and those cash have been squandered now. Very soon, contractors go ask that FG accounts be frozen like has been done to Imo State – watch out
          Who did he give the monies to? Thieves and ruinous Governors and now we are done for. You still do not want to give up on your very despicable life style.
          Oya make Kemi go borrow na!

          • Rommel

            Okonjo Iweala contested for world bank presidency,do you know how she fared and why?

    • emmanuel

      When we told you liars and low life Nigerians that Saudi cut their entire budget by 14% and Capital budget by 185 and that NIGERIA INCREASING HER BUDGET BY 30% WAS SENSELESS, YOU AND YOUR SET OF MISCREANTS FUMED AND CALLED US THE USUAL NAME – WAILING WAILERS.
      SO, WHY ARE YOU TURNING TO SAUDI MODEL OF SALARY CUTTING? I SUSPECT YOUR ZEST FOR THAT, IS DRIVEN BY YOUR EVIL INTENT OF WANTING NIGERIANS INFLICTED WITH MUCH MORE PAINS.
      Please, note that your masters have no brains, so they keep churning out lies and propagandas to distract the people, but that will not be for too long again.
      Make una nor worry, the patience is almost gone, one day one day una go see people revolt violently

      • Rommel

        Saudi Arabia has infrastructure while president Jonathan and his goons looted funds meant for infrastructural development in Nigeria,again Saudi has very small population in comparison to Nigeria with a far higher income per capita,besides,they make more money from Hajj than we probably are doing now from oil so you can see that you are not fit to respond to me

  • Watch man

    Sale, concession, leasing, liberalization, deregulation, or similar business terms are euphemistic acronyms which IMF/World Bank use in deceiving gullible nations into concentrating resources in the hands of their few stooges; they don’t want to call it privatization because it will be too obvious. Truth is that IMF/World Bank are the unseen hands manipulating the economy of the country to the detriment of the Nigerian populace. Selling of national assets will in no way help Nigeria in the long run. Govt should beef up the aggressive recovery of stolen wealth, cut down the unholy jumbo pay of NASS members, remove security vote of governors, cancel medical treatment abroad by govt officials except for cases that cannot be handled in Nigeria, cut down on the number of people that travel with PMB on foreign assignments, sell at least five of the presidential jets, cut down on feeding vote for president/governors, etc. When this is done, more money would have been added into govt coffers.

    • Okokondem

      Amen!

      That’s it, what else is there to say. I mean these are the obvious steps, not easy by any measure, but nonetheless obvious steps Buhari administration needs to take to eventually reverse the current trajectory headed to the abyss.

      I’ll recommend he starts today by directing his justice department to vigorously investigate the budget padding allegations because it would not be sensible to raise funds only to watch it disappear in the black hole known as the National Assembly.

  • wazobia ninja!!!!!!

    hmmm …………………………….. who blind-sided saraki?

    • Econometrist

      @disqus_ljMvZPzkpc:disqus

      Bukola Saraki is a shame and a disgrace

      BUKOLA SARAKI is a shame and a disgrace to university graduates in Nigeria. He is a dullard and a dunce.
      If only he has just average intelligence he’ll realize the folly in selling one’s intestines just to quickly buy food.
      The morons infected by his idiocy were clever by half to change the purpose of sale into a lofty one to deceive.
      They said it is to shore up foreign reserves, as if the immediate solution to recession is a loss of future income.

  • Dr Pat Kolawole Awosan

    There is nothing wrong with the Federal Government proposed sales of some national assets to revive the domestic economy now suffering deep recession.Assets are like saving for the dry season instead of borrowing foreign loans with huge interest-rate.Or Bukola Saraki lede senate must cut off their huge salaries into half and forfeit all their huge allowances to save huge funds in the national treasury which could be focus on vital infrastructure development to develop Nigeria.

    • Okokondem

      So, why isn’t Buhari proposing that…I mean cutting their jombo salaries and ungodly allowances, across the board, executive and legislative branches alike?

      All he needs to do if he has the political will is propose a reasonable salary structure for members of the NA, and if the “Honorables” in the national assembly threaten to kill it, he calls for a referendum so the people can vote on what salary is approximate.

      Does he have the requisite political will or is he only preoccupied with regional consolidation of powers.

      • emmanuel

        If you know how much Buhari garner from his office which the NASS knows, you would understand why the sleeping dog has been let to lie peacefully.
        Forget the sanctimonious posturing when gullible Nigerians dey celebrate so.
        If another party unseat the APC in 2019, you would also hear of freezing of carpenters and welders account help in trust for misses Bing.
        What they actually rake from that office is so huge and may be much more than what Patience had in her accounts.
        Senate President earn over N1.3 billion yearly multiplied by 8 is about N10 billion. How then will the President not get more?
        APC just dey take Nigerians play game and try to make Patience look like a devil. The days of Aisha is coming ahead too!

    • emmanuel

      Lame duck this is not a mortgage or shares. Who sells his factory to survive, what does such investors do thereafter, begin to build from the scratch.
      Poki poki Doctor do you know what is called and equity for re-financing business? I am getting to feel that you are trully an Islamist from far Northern Nigeria – possibly a migrant also.
      Income yielding Assets are not sold maga!
      The st**id Nigerian Governors agreed to the sales thing, because they were secretly brainwashed individually that they would be allowed to buy into the assets, not knowing that the Tinubu treatment would await them.
      Those who have prepared the srcript are not more than nine in number and would never allow an infidel to own such with them.
      Lets see if the DG appointed by Buhari yesterday would have job to do now that the Senate has killed the request at the first instance. I know that this issue is what will end Nigeria if the Cabal force their way through it and who say it is also not the good reason to impeach Alhaji Bingo?

    • Zy

      There’s nothing to revive. Nigeria has been in recession for decades, we are in currently in depression. After the sale of the assets what will the money be used for, won’t it be shared to states to allocation and end up paying salaries, do we have industries to revive? there is nothing to revive,

  • IZON Redeemer

    Our Govt Don’t Know How Long Recession Will Last”. – Kemi Adeosun.

    Nigeria’s finance minister, Mrs Kemi Adeosun, who in an interview stated that the current economic recession in the country would soon be over has made a u-turn claiming that the incompetent Buhari’s government do not have a clue when the self inflicted economic recession will be over. The Fulanis just wanted to sell the oil refineries to their brothers from Mali and Senegal in Nigeria–such as Dangote—-and the Emir of Gwandu–Emir of Kano ati the Sultan of Sokoto—————Yesterday when late Alams wanted to purchase the refineries for the Niger delta people-Dangote–arti the Sultan of Sokoto mobilized to get him into jail via Obj–The Yorubas on almost lynched Jonathan when he tried to implement the sale of the refineries——now they back their Fulani Masters from Niger Republic to steal the only projects that will one day remind———————our kids that Nigeria once depended on the oil resources of the SS—to breath———–Separation is the only way out———————-

  • Tunsj

    The question is, will President Buhari allows the sale of national asset to go through? If he does, then he has lost all credibility.

  • bigbang

    The NASS is a joke. Always playing politics and not working for the best interest of Nigerians. What plan are they rejecting? Did the executive send them any plan to sell any national assets? Are they also against leasing assets that are gathering dust?

  • Folake Ibiyemi

    Good thing to do, KUDOS to them for this feat.

  • bigbang

    NIgeriA should use the concession model. The reality is we don’t have the revenue to maintain the government facilities across the countries. Government assets around the country is rotting. You will weep if you see the sight of the National stadium in Lagos. We have stop playing politics and do what is best for the country. We have concession assets that are not performing well. But keep the NLNG. The reality is with the NDA we won’t get a good deal for the oil and gas assets. We should.hold onto them. Assets like rail lines, airports, stadium, steel plants and should be leased out. There is no money to maintain them.

  • Dr Pat Kolawole Awosan

    Senators and reps must be prepare to forfeit their huge constituencies funds,clothing allowance,feeding allowance,newspapers allowance which Nigeria treasury could add together to raise enough capital to boost our domestic economy and develop capital projects in Nigeria.Our national assets could well be sold to boost our doestic economy and rescue Nigeria out of recession and develop our infrastructure.