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Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC - Politics - Nairaland

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Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by BeeBeeOoh(m): 12:13pm On Sep 23, 2016
The selling off of Nigeria’s national assets has been in many discussions over the past few days with many arguing in favor and others arguing against the idea.

The chairman of the Dangote group, Alhaji Aliko Dangote is one of the voices in support of the selling of some of the national assets to tackle the recession, especially Nigerian Liquefied Natural Gas (NLNG).

He said: “The only way for us to get out of this recession is to make sure we move into action quickly; by diversifying the economy quickly.

“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times. It doesn’t make any sense for me to keep any assets and then suffocate the whole organisation.

“We have a lot of assets to sell. We can sell part of the joint ventures, or part of the shares. My suggestion before was that they should even sell 100 percent of NLNG. I don’t think government should be in any business of investing in sectors like LNG.”

While, popular lawyer, Femi Falana (SAN), is against the sale for reasons he pointed out, he said:

“It is pertinent to point out that the suggestion is in total conflict with section 16 of the Constitution which has prohibited the concentration of the nation’s wealth in the hands of a few people or a group.

“Indeed, by section 44 of the Constitution the nation’s natural resources shall be held in trust for the Nigerian people by the federal government.”

However if the president is going to consider selling some national assets to help salvage the economy, there are some things he must never sell:


[size=17pt]3. NLNG[/size]

According to Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the sale of NLNG is not the best option:

“It is the considered view of the Commission that Nigeria’s assets like NLNG and other strategic national resources should not be sold to meet short-term financial obligation.”


NLNG is one of Nigeria’s biggest oil companies, employing a large workforce of Nigerians. Like Femi Falana rightly pointed out, most buyers engage in asset-stripping, the sale of NLNG will definitely result in loss of jobs and the placing of one of Nigeria’s prime assets in private hands who may not have the same goals.



[size=17pt]2. Refineries[/size]

The refineries in Warri, Port Harcourt and Kaduna are among the national assets the President is asked to consider selling. This however might be a bad idea because, the loss of thousand of jobs that might be an unintended consequence.

The sale of refineries might also lead to an increase in fuel price. Given the current state of the Nigerian economy, a hike in fuel price is the last thing the country needs.


Speaking on the proposed sale, NLC made the following statement:

“A sensible nation does not go on chest-thumping trying to sell its cash-cows or its performing assets in times of difficulties.

“These assets guarantees the nation’s present and future as it provides the much needed resources to continue running the nation. In Nigeria, we seem to have perfected the act of the absurd putting common sense and logic on its head all the time to our eternal detriment.”



[size=17pt]1. NNPC[/size]

Nigeria National Petroleum Corporation (NNPC) is another of the nation’s assets that the president is being encouraged to sell. However this might be a bad idea because privatization exercises have not had a good success rate in Nigeria.

Speaking through the Nigeria Labour Congress (NLC), led by Joe Ajaero, warned that any attempt to sell the assets would be resisted as previous privatization exercises only made few privileged individuals to appropriate national assets to the detriment of the general masses.

“We assert that this call is contemptuous of the Nigerian nation and its suffering masses. To seek to sell our remaining national patrimony is to say the least an attempt to mortgage our collective future in favour of a few economic cannibals and Buccaneers who unconscionably have commandeered the Nigerian state and its levers of power with the hope of using it to hijack our national patrimony,” they said.

https://www.naij.com/979465-recession-3-national-assets-buhari-must-not-sell-or-nigeria-will-perish.html

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Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Cutehector(m): 12:16pm On Sep 23, 2016
grin


If Buhari sells the NLNG to Dangote then Nigeria is in big soup

41 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by agwom(m): 12:21pm On Sep 23, 2016
hmmm
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by dunkem21(m): 12:22pm On Sep 23, 2016
Just sell everything sellable cheesy

14 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by ogb5(m): 12:28pm On Sep 23, 2016
If you are in financial difficulties, you don't sell assets that are viable and helping you to stay afloat. LNG and NNPC are the cash cows today.

Dangote is simply looking for a way to have his paws on our wealth.

72 Likes 6 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Jesusloveyou: 12:38pm On Sep 23, 2016
nawa oo for this country, the way many pple dey reason nowadays, i dont know if recession is affecting our brains. d constitution said- dont sell our national resource, but this 3 assets we are about to sell are not national resource , they are companies. the only national resoures i know, are crude-oil, solid minerals and water-ways etc.

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Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Jokerman(m): 12:50pm On Sep 23, 2016
Jesusloveyou:
nawa oo for this country, the way many pple dey reason nowadays, i dont know if recession is affecting our brains. d constitution said- dont sell our national resource, but this 3 assets we are about to sell are not national resource , they are companies. the only national resoures i know, are crude-oil, solid minerals and water-ways etc.

Chai!!! embarassed... u better change ur name to Allahlovesyou...

So you want FG to sell Nnpc, lng etc... Hope u are not confused sir....

55 Likes 8 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by iamodenigbo1(m): 12:51pm On Sep 23, 2016
no comment
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 12:59pm On Sep 23, 2016
[size=13pt]I suspect Dangote is enemy of Nigeria. All the assets handed to him virtually for free by a known enemy of Nigeria and puppet of the white man, Thief Obasanjo, suggests Dangote is likely a front for the white man to strip Nigeria and indeed Africa, of assets and wealth.

What has Dangote done with all the wealth handed to him to benefit Nigeria?

Instead he is allegedly investing in other countries (could this be a way of repatriating profits to his white masters?)[/size]

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Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Izonpikin: 1:11pm On Sep 23, 2016
Cutehector:
grin


If Buhari sells the NLNG to Dangote then Nigeria is in big soup
definitely the house won't let him...this is why democracy is good...

He can't carry out that act on his own...

6 Likes 1 Share

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 1:14pm On Sep 23, 2016
[size=13pt]People suggesting selling of our assets at this time are probably all agents of our white neo-imperialists enemies:

Saraki - secret ally of Thief Obasanjo

Dangote - ally of Thief Obasanjo

Sanusi - a man who presided as CBN Governor at time of greatest looting and did little to stop or check it.

I think a strong link is evident between Sanusi and Thief Obasanjo.

Thief Obasanjo is the criminal that sold off most of our oil blocks and any national asset he could manage to sell in the eight years he ruled 1999 -2007, with nothing but a mere $45bn in reserves to show for it.
[/size]

19 Likes 5 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Jesusloveyou: 1:28pm On Sep 23, 2016
Jokerman:
.
So you want FG to sell Nnpc, lng etc... Hope u are not confused sir....
and other countries are doing better for selling-off such wasted entity called national companies. so nothing wrong in selling-off the waste.

2 Likes 1 Share

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by veekid(m): 2:09pm On Sep 23, 2016
This guy man should juzz re-sign instead of running the country like poultry ............
Nobody shouldn't even try to stop him; let him put the country on eBay and dispose #uneducated illiterate

5 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Shiifi(m): 2:09pm On Sep 23, 2016
Shiooor wetin Una want make these man con sell
Abi make I ask Ifa first

1 Like

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by 912(m): 2:10pm On Sep 23, 2016
Those are the three he should sell

2 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by ijebuloaded(m): 2:11pm On Sep 23, 2016
Goood




What Will You Do To Save Nigeria If You Are Elected As President Tomorrow?

https://www.nairaland.com/3366855/what-save-nigeria-elected-president
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 2:13pm On Sep 23, 2016
x
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by sidneyj(m): 2:13pm On Sep 23, 2016
Wondering if Google can find God's plan for this country
but come to think of it, this is not how Moses led in Bible sad sad sad

2 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by HoldenCaulfield(m): 2:14pm On Sep 23, 2016
Lets sell the whole country, give everyone his own share and part our ways.... Fair enough yes?

12 Likes 3 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 2:16pm On Sep 23, 2016
We de watch dem!! Make dem sell first!!

1 Like

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Rexnegro(m): 2:17pm On Sep 23, 2016
buhari should sell super eagles they re useless, sell Nigeria police,those ones re more than useless and annoying, he should sell ITF cos those na bigger but quiet looters (up till now they haven't paid me since 2009 and millions our i.t fund.), buhari should sell also those in charge of nysc fund for giving out inferior kits to prospective corpers and pocketing millions if not billions...infact sell the Country as a whole sef. Nigeria is more than corrupt especially in gej govt. May God just intervene if not hmmmm.....

14 Likes 2 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by kaen1317: 2:18pm On Sep 23, 2016
Knowing in life there are no guarantees, what will happen when we've sold off all our assets of value and still don't come out the recession
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Pavore9: 2:18pm On Sep 23, 2016
Those are no-go areas.
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 2:19pm On Sep 23, 2016
Funny you.
sidneyj:
Wondering if Google can find God's plan for this country
but come to think of it, this is not how Moses led in Bible sad sad sad
Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by opalu: 2:19pm On Sep 23, 2016
[size=14pt]Sell those cesspits called Refineries.
Never ever sell LNG. That was how Govt hurriedly sold NICON Group that was not under unusual issues to Jimoh and it became history. [/size]

6 Likes

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by sidneyj(m): 2:19pm On Sep 23, 2016
am very sure that apple seller that sold apple to Abacha is not alive
She cant be alive and Nigeria will be going down like this

4 Likes 2 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by jmoore(m): 2:20pm On Sep 23, 2016
National Assembly should be scrapped.

5 Likes 1 Share

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by balosunky(m): 2:20pm On Sep 23, 2016
I support the motion of the FG to sell more than half of nnpc to individuals and companies atleast close to 70% while nigeria should hold 30% and also the highest shareholder only then will nnpc remit the real amount since they re the watched by private individuals and companies whom has invested in them to make profit but can't hold us to ransom since we re the highest shareholder

3 Likes 2 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by MrJK(m): 2:21pm On Sep 23, 2016
National stadium Surulere and national theatre must go

2 Likes 1 Share

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nairadays: 2:22pm On Sep 23, 2016

1 Like 3 Shares

Re: Recession: 3 Nigerian National Assets Buhari Must Not Sell- RMAFC by Nobody: 2:24pm On Sep 23, 2016
Izonpikin:
definitely the house won't let him...this is why democracy is good...

He can't carry out that act on his own...

Who are the majority members of the house,are they not his brothers?Let's watch and see how the whole drama unfolds,Don't forget that Dangote has also bought part of Saipem.I wonder what becomes our fate as the control us politically and economically.These people are more dangerous than snake.

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