15 February 2017

Nigeria: Govt Denies Plan to Raise N5 Trillion From Asset Sales

Abuja — The Ministry of Budget and National Planning has denied reports in a section of the media that the federal government is planning to raise about N5 trillion from assets in the next four years.

The ministry in a statement released by Mr. Akpandem James, the Media Adviser to the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said its attention had been drawn to publications in a section of the media indicating that the federal government is planning to raise about N5 trillion from assets sale in the next four years.

The publications claimed that the projected amount was contained in the Economy Recovery and Growth Plan (ERGP) being finalised by the federal government.

In the statement yesterday, the ministry said it had become necessary to clear the air that the ERGP which is being finalised and will soon be presented to the public has no recommendation for raising that amount of revenue from sale of assets.

According to the ministry, to achieve the strategic objectives of the plan, 60 strategies have been developed for implementation with four key execution priorities, including stabilisation of the macroeconomic environment, agriculture and food security, sufficiency in energy (power and petroleum products), and industrialization focusing on Small and Medium Scale Enterprises.

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