Senate Votes Against Sale Of Assets


The senate has voted against the plans by the federal government to sell off some of the country’s assets in order to fund the 2016 budget.

The motion against the planned asset sale was moved by Senate leader, ‎Ali Ndume, who urged his colleagues not to agree with proposed plan.

“I move that ‎the senate oppose the sale of national assets to shore up our reserves,” he said.

And when the motion was put to a voice vote, “the ayes had it”.

Last week, the upper legislative chamber, had debated on ways to get the economy out of recession.

On Tuesday, the recommendations from the debate were harmonised and presented as resolutions to the executive.

The federal government is mulling the sale of national assets to generate funds to finance key infrastructural projects, and to generate enough liquidity to pull the economy out of recession.



    Saraki had supported the idea which was first suggested by business mogul, Aliko Dangote and was supported by the emir of Kano, Mohammed Sanusi,

    But, on Tuesday, his colleagues took the opposite position.

    Debates over the idea of selling national assets have been raging for weeks, with Aliko Dangote‎, president of Dangote group, and Muhammad Sanusi II, emir of Kano, espousing it.

    But former minister of education Oby Ezekwesili and former Central Bank Governor, Charles Soludo, have criticised the idea.

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