FG, Governors endorse sale of national assets

The National Economic Council, which comprises of the Vice-President Yemi Osinbajo and 36 state governors, has endorsed plans by the Federal Government to sell some national assets as part of efforts to address the current economic recession in the country.

The Senior Special Assistant to the Vice-President on Media and Publicity, Mr. Laolu Akande, in a statement said that the sale of national assets was one of the recommendations of the Minister of Budget and National Planning, Senator Udo Udoma (SAN), during the National Economic Council meeting held on Thursday.

Other recommendations, he stated, included the diversification of the economy and the use of recovered loot.

The statement added that as part of measures to revive the economy, the President’s Economic Management Team is working on plans to generate immediate larger injection of funds into the economy through assets sale, advance payment of licences renewal, infrastructural concession, use of recovered funds etc. to reduce funding gaps; and implementation of fiscal stimulus/budget priorities.”

The government also wants to fast-track procedures through legislation and implementation of Strategic Implementation Plan of the budget; and engage in the meaningful diversification of the economy and cut down importation.