Senate Rejects Sale Of National Assets


By Nuel Suji – The Senate on Tuesday voted against the sale of Nigeria’s assets proposed by Federal government.

‎During consideration of recommendations from debate on economic recession‎, Senate Leader, Senator Ali Ndume‎ moved a motion urging the senate to reject the proposal for the sale of the nation’s assets.

Senate in session

“I move that ‎the senate oppose the sale of national assets to shore up our reserves,” he said.

Senate President Bukola Saraki put the motion to a voice vote to which “the ayes had it”.

Last week, the upper legislative chamber, had debated on ways to get the economy out of recession.

On Tuesday, the recommendations from the debate were harmonised and presented as resolutions to the executive.

The federal government is mulling the sale of national assets to generate funds to finance key infrastructural projects, and to generate enough liquidity to pull the economy out of recession.

In a 14-point statement last Wednesday, Saraki recommended the sale of national‎ assets to shore up the nation’s reserves.

But, on Tuesday, his colleagues took the opposite position.

Other salient recommendations adopted by the Senate include; Urging the executive to ensure constant meeting of fiscal and monetary authorities for harmonization of all policies , particularly lower interest rates for genuine investors in the real sector as well as medium and small scale farmers and processors.

It also recommended that the Government must engage in meaningful and inclusive dialogue with the aggrieved Niger Delta militants to avoid escalation of the unrest in the region and ensure protection of Nigeria’s oil and gas assets to facilitate increase in oil production and boost revenue therefrom.

To this end, the recommendation added, that the President should as a matter of urgency, appoint a Senior Special Assistant who should lead a team that coordinates the government’s engagement with all stakeholders in the region, specifying that the team should include Senators from the Zone.

The Upper Chamber also adopted recommendation, urging the President to reconstitute the Board of Central Bank (CBN) and all other critical agencies in order that the operate in accordance with the enabling laws.

To solve the age long problem associated with saving for the rainy day by the federal government, the Senate adopted recommendation seeking for amendment of section 162 of the constitution to make it possible for federal government to save money to that effect, etc.

In ensuring that the recommendations get to the President on time, the Senate also resolved that the report of all the 22-point recommendations should be personally delivered to the President by the Senate President.


Please enter your comment!
Please enter your name here