Archive Centre opposes sale of assets, prescribes solutions to President...

Centre opposes sale of assets, prescribes solutions to President Buhari

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The Centre for Global Solutions and Sustainable Development (CENGSSUD), has made public its strong opposition towards the proposed sale of national assets.

 Describing the notion as ‘short-sighted’ and ‘unsustainable,’ the centre in a release advised the federal government to tread with caution as ‘quick and short-cut fixes which may address the needs of the nation today, but may not be visible and viable to address the needs tomorrow.’
Arguing further, the centre noted that such ventures have yielded the country no good in times past.
“In the past, similar assets have been sold such as Power Holding Company of Nigeria, NITEL etc. and did not yield positive results, but rather, proceeds of sales were squandered and unaccounted for.
“It is also disheartening and worrisome that viable asset like the NLNG that rescued Nigeria in mid-2015 when 27 of the 36 states in Nigeria were unable to pay workers’ salaries, is up for sales. 
“It is also important to remind the government if we sell our National assets and raise like $20 -$25 billion to boost our foreign reserve and our appetite for importation has not reduced by now, export not yet improved, with the present conflicting Forex, monetary and economic policy frameworks, then the reserve will be dried-up again and fund realized from asset sales may go into extinction and we will be back to square one”
As alternatives to selling of assets, the centre advised the government to concede refineries to private opearators to ensure maximum returns, solve the incessant Niger Delta militancy, cut administrative cost and diversify the economy.

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