Recall, that Saraki, and Aliko Dangote, Africa’s Richest Man, had called for the sale of Nigeria’s National Assets, to remedy the current economic recession. Although, some Nigerians and Legislators had opposed the move.
Buhari declared that the proceeds from the sale of some of the country’s National Assets, would be used to fund the expenditure of government, as contained in the 2016 budget.
He added that, while the government had mapped out key infrastructural projects that would support its economic diversification agenda, the shortfall in revenue had made it difficult for these projects to be executed.
The President, who stated this through the Minister of Budget and National Planning, Senator Udo Udoma, in a statement, explained that the government had lost almost half of its expected revenue this year.
The Minister, explained that “the unfortunate scenario was what prompted the Economic Management Team to urgently work out a fiscal stimulus plan to generate large funds to be injected into the economy.”
The funds, he noted, “would be injected through proceeds of Asset sales, advance payment for license rounds, infrastructure concessioning, use of recovered funds, among others, to reduce the funding gap.”
He added, “the primary objective of government’s fiscal stimulus plan, is not to sell off all major critical National Assets ,but to source immediate funds, to reflate the economy to the path of recovery.”
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