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Arewa Consultative Forum Group condemns planned sale of national assets

The ACF also alleged that previous sale of the country’s assets did not amount to anything.

  • Published: , Refreshed:
Recession play

Recession

(businessdayonline)

The Arewa Consultative Forum (ACF), has slammed the Federal Government for planning to sell the nation’s assets.

The ACF also alleged that previous sale of the country’s assets did not amount to anything, adding that the resources were not used properly.

According to the group’s spokesman, Muhammad Ibrahim, “The growing calls by some prominent politicians and business tycoons on the Federal Government to consider the selling of strategic viable national assets as an option to take the economy out of recession at this material time is inappropriate.”

Ibrahim also added that “ACF therefore considers it unwise for the Federal Government to contemplate the selling of our major national assets like the Oil refineries, Federal Airports, NLNG, while we can use them as security against needed funds to boost the economy, as the recession is considered to be temporary. After all, the Federal Government’s diversification policy in agriculture and solid mineral resources is aimed at boosting the economy to arrest the recession.

“In addition, ACF wishes to suggest that unnecessary allowances of public officers and overhead cost that form over 40% of our annual budget should be converted to capital allocation to boost the economy. This is the time for national sacrifice in order to bequeath an enduring legacy to the next generation. Positive change usually comes with painful necessary sacrifice.

“ACF however supports some of the measures proposed by the National Economic Council but seriously objects to the selling of strategic national assets just to get out a temporary economic recession.

“ACF calls upon our prominent business men and women to invest their resources in the oil and gas industry, building of airports, etc that will compete favorably with the public ones. This will equally boost the economy through employment and infrastructural development. Let’s put on our thinking cap and do the needful, rather than taking short term measures.”

Meanwhile, the Federal Government has said it has no choice than to sell some of the country's national assets to enable it fund the expenditure of government contained in the 2016 budget.

Do you support the idea of selling off Federal assets to put an end to the recession?»

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