The NLC has also threatened to embark on a strike if the country’s assets are sold.
The lawmakers in the Red Chambers, unanimously refused the governments stand, when they received the recommendations of Committee on the state of the economy.
Speaking on the FG’s stakes in most Joint Venture projects, the Deputy Senate President, Ike Ekweremadu said "The Federal Government should Re-negotiate terms of cost of production and profit sharing.”
The Nigeria Labour Congress (NLC) and other trade unions have threatened to embark on a strike if the country’s assets are sold.
Billionaire businessman, Aliko Dangote had earlier advised the government to sell some of its assets to boost its reserves.
Speaking on the issue, a former Governor of the Central Bank of Nigeria (CBN), Charles Soludo has condemned the planned sale of national assets, saying Nigeria will be short-changed.