Nigeria: MAN, Bismarck, LCCI Disagree Over Call for Assets Sale

23 September 2016

Thecall for the sale of NiNigeria's national assets to raise funds to plug the hole in the dwindling revenue of the country is generating divergent views with many saying no to the idea while some private sector operators are throwing their weight behind the sale.

Eminent economist and Managing Director Financial Derivative Mr. Rewane Bismarck said that the Nigerian Liquefied Natural Gas NLNG is a cash cow that should not be sold. Speaking to Vanguard, he said "I believe in the sale of national assets in a strategic manner. That is you sell and go into a simultaneous repurchase agreement so when the prices go up you can buy it back and pay a carrying cost. But I am against selling the NLNG because it is a cash cow.

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