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National Assets Sale ‘Connected people in Buhari’s cabinet want to cheat Nigeria,’ Group says

The group’s comments were contained in a statement released by spokesman, Adebiyi Adekoya on Wednesday, October 5.

  • Published:
President Muhammadu Buhari. play

President Muhammadu Buhari.

(News of Africa)

A group, Catalysts for Global Peace Initiative (CPJ), has said that the proposal to sell Nigeria’s assets is being pushed by some members of President Muhammadu Buhari’s cabinet.

The government has said that it might sell off some national assets in order to raise funds to get Nigeria out of the current recession.

The group’s comments were contained in a statement released by spokesman, Adebiyi Adekoya on Wednesday, October 5.

The statement reads:

“Those behind the campaign believe the sale of important national assets is the quickest way to raise foreign exchange, shore up the value of the naira, and fund the 2016 budget with a view to getting Nigeria out of recession.”

“We join patriotic Nigerians in strongly opposing any move to walk this path. We state our opposition to assets sale on the following grounds:

“The proposal appears to  be  a grand  conspiracy  by  some connected people in the federal cabinet, the parliament and the private sector to short-change the country. It is curious that billionaire businessman Aliko Dangote first suggested the sale of Nigeria’s equities in the Nigeria Liquefied Natural Gas (NLNG) Limited and African Finance Corporation (AFC).

“We found it even more curious that barely a week after Dangote’s suggestion, Senate President Bukola Saraki, CBN Governor Godwin Emefiele, Kano Emir Muhammadu Sanusi II, and state governors after a meeting of the National Economic Council (NEC) separately but publicly supported the call for assets sale. The campaign appears too well- coordinated to be a coincidence; it is too smooth to be for common good.”

 “We remember that previous sale of national assets by previous administrations in the past, to a large extent, did not yield the desired results. Indeed those who bought those assets, mostly party loyalists and their business cronies, resorted to asset stripping. There is nothing to show the renewed campaign to sell national assets would end up with a different result.

“We fear that any resort to assets sale could worsen the militancy problem in the Niger Delta, further whittle down our oil revenue, and worsen the decline of the economy.

“We fail to see the wisdom in this step and are inclined to liken this to the ill- advised spending of national savings in the recent past. We agree with the informed opinion of knowledgeable professionals, particularly former CBN Governor Charles Soludo, that the idea is derived from a false foundation, akin to chasing pennies while losing pounds.”

ALSO READ: Pat Utomi blames Buhari administration for recession

The assets sale was first suggested by billionaire, Aliko Dangote and then supported by Senate President, Bukola Saraki.

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