Nigerian government to privatise more state-owned enterprises

The Nigerian government will privatise more state-owned enterprises to raise capital the required funds to grow the economy and ensure stability.

The national assets include NiCON Insurance Ltd, Skyway Aviation Handling Company and the controversial multi-billion Aluminium Smelter Company of Nigeria (ALSCON).

Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, stated this at the end of the annual meetings of the International Monetary Fund (IMF) and World Bank, in Bali, Indonesia.

He said the country's Bureau of Public Enterprises (BPE) is expected to make an announcement on such privatisation soon, according to TheCable.

Last month, the government sold a 21% stake in the country's minting and printing company to the Central Bank of Nigeria at a cost of N17.3 billion.

President Muhammadu Buhari is looking for means to fund fiscal deficit and finance key infrastructure projects in the 2018 budget

Last week, he wrote the National Assembly to approve a $2.86 billion external loan.

In spite of the warning by the International Monetary Fund (IMF) over debt distress in some African economies, Nigeria said it had to borrow to exit economic hardship on its citizens.

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Nigerian government to privatise more state-owned enterprises

The Nigerian government will privatise more state-owned enterprises to raise capital the required funds to grow the economy and ensure stability.

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