Nigeria plans to generate as much as $16.4 billion through asset sales in the next four years to reduce the burden on the public budget, a Budget Ministry document showed.

The sales will help to tackle inefficiencies and stem “corruption in public enterprises,” according to the document obtained by Bloomberg, which outlines the West African nation’s plans for economic recovery from 2017 to 2020. President Muhammadu Buhari will introduce the proposal on an unspecified date this month. It didn’t name the assets it may sell.

Nigeria estimates its economy contracted 1.5 percent in 2016, partly because of a decline in the price and output of oil, the country’s biggest export and revenue generator. Buhari proposed a 20 percent increase in this year’s budget to stimulate the economy and help gross domestic product expand by an average of 4.7 percent annually over four years and reach 7 percent in 2020.

“They could look at reducing government stakes in oil joint ventures from around 55 percent to 40 percent or 45 percent — that alone can generate over $10 billion,” Pabina Yinkere, the Lagos-based head of research at Vetiva Capital Management Ltd., said by phone. “Non-oil assets like concession airports are a more difficult sale because they would involve a lot of transactions.”

The government targets oil production of 2.5 million barrels a day by 2020 to boost export earnings, it said in the document. Output declined to an almost three-decade low of 1.4 million barrels a day in August after militants in the Niger River delta region bombed pipelines to demand more benefits from the resource.

http://investorsking.com/nigeria-to-generate-16-4-billion-from-asset-sales/

Same story everyday. Pls tell us sumtin else

Get to selling already.

They came in and met billions of dollars in reserves, they then removed the fuel subsidy, telling us it was the only way to ensure financial surplus.., not done, they added more to the duties and VATS paid at the ports, then "bank stamps' on transactions..., they then connerd trillions through the so-called anti-corruption fight.., borrowed billions of dollars both from the world bank and ADB.., refused to raise minimum wage while raking in billions through fines on MTN them and through a vigorous FIRS..Now, after being chased away from selling off the LNG and being stopped from borrowing over 30 billion usd., they are going to make what? 17 billion usd from asset sales! When they are done, they will look you straight in the face and STILL tell you; "there is no money...the past administration stole every dime.., oil sales are low:.., bla bla bla bla... This government needs to tell Nigerians where all the monies are going to...

Why not sell Nigeria to China? They can give you $10 trillion.

It will take God's grace for us to experience restructuring under a northerner. It is still same old story when it comes to National cake. Fund the north heavily with debt then pay off debt with assets.

Lalasticlala Mynd44 seun Dominique

Standing5:
It will take God's grace for us to experience restructuring under a northerner. It is still same old story when it comes to National cake. Fund the north heavily with debt then pay off debt with assets.

who hacked you

How much will they even generate when the sell this country back to the British?

It's really sadden how these people just dump figures on us cause they know in a month's time we've totally forgotten about it.

Everyday then turn out annoying figures and statistics and the country keep going back.

Can they please be realistic at least for once.

Reading through the reasons for the sales and u can't help but wonder if we are really alright in this nation

The sales will help to tackle inefficiencies and stem [s]“corruption in public enterprises,” [/s]according to the document obtained by Bloomberg, which outlines the West African nation’s plans for economic recovery from 2017 to 2020."

They know if they use the world corruption, no question will be asked.

o ga o

I fear this governmenti

Northerners will never allow restructuring because they are parasites. Now most of our assets will be sold to them further enhancing their claw like hold on the economy. zoo Republic

The figure seems a tad exagerrated to me.

Let FG sell anything that is available to them. Most FG owned properties are being neglected. I was at police officers mess yesterday and that place looks horrible, unkept. So are others.

Sell it to a controllable amount you can give top priorities abeg

Na today we begin here nigeria to generate

All the ones wey dem don generate since where the money

I hope Buhari is part of the asset to be sold.
Oh!.....He's even a liability.

Even now, we are kinda living at the mercy of private enterprises, not to talk of when we sell national assets. Country that doesn't have price control, consumer protection and employee protection policies, dem go dey sell gala like valu bread by dat time.
[size=24pt]God help us[/size]

This country is finished but its expected since a cattle rearer without financial education is the leader of this country

assets =puts money in my pocket
liability =removes money from my pocket

But unfortunately not every one know this

information1:
... APC GOVERNMENT... ARE THE BEST IN(FILL THE GAP)
http://talkgeria.com/topic/nysc-cbn-to-give-loans-to-corpers-nysc/

Propaganda lies

I will only support selling assets or borrowing if and only if the govt reduce the salary and allowances of the executive and legislature, remove those wastes on the budget, etc. You can't maintain the waste and extravagance of the past and still want to sell or borrow.

Where is the change?

Make them trade those assets on NSE

YES Assets from legalized corruption return from looters'kings and re-embezzled again and the circle continues on and on.

Too many stories.
Zero impact on the people.
Where is the change?

We better vote out this slowpoke before the cabal sell the assets to themselves, ask Amaechi the people he sold Rivers Power project to and what he used the money for,he used it to finance APC

Everybody will keep watching these people steal every pin in Nigeria. I keep saying, there is no Nigeria, why should someone steal what belongs to a group of people? Let them continue until nothing else to steal, then no one of them will want to become a politician. Then, we can start building the regions once more.
There is no Nigeria, we just have people and settlements. That is why everybody want to enrich him/herself.
It is very very unfortunate. Yet people still hail these people after marathon stealing.

who are going to be the buyers ? na dem dem go buy the assets at very cheap rate dem go soon sell the country.

This article doesn't the most issues, the question is what are they selling? To who? At what price? Who is incharge of disposing of the sale of assets

Has it reduced the price of garri in the market ?

lagdmark:

Propaganda lies

I no talk am oo