Recession: VP, Governors Endorse Sale of National Assets Organized Labour Says No

National Economic Council attended by the State Governors, has approved the proposed sale of some of the national assets to reflate the economy and end the recession.

Senate President, Alhaji Aliko Dangote, the Emir of Kano,  and The Governor of the Central Bank of Nigeria had spearheaded the proposal which include the sale of shares in the Nigeria liquefied natural gas limited and oil joint ventures.

Addressing the state house correspondents at the end of the council’s meeting, Ogun State Deputy Governor, Yetunde Onanuga, Jigawa State Governor, Atiku Bagudu and Governor Abiola Ajimobi, said they were briefed by the CBN Governor, Finance Minister and National Planning and Budget Minister on the state of the economy.

They said the council endorsed the proposal of the economic management team on the planned sale of some of the national assets, and strategies adopted in addressing the challenges of economic recession.

The meeting also approved a N500 billion long term funding for housing programme to deliver housing unit that will cost between N2.5 million and N18 million in a ready-to-occupy with water and electricity supply.

About 400,000 to 500,000 units of such houses are to be delivered yearly under the mass housing programme.

Meanwhile, the organized labour has asked the presidency to reject the proposal for the sale of some of the national assets to generate adequate fund to fight the economic recession.

President of the Nigeria Labour Congress (NLC), Ayuba Wabba, said the targeted assets like the Nigeria liquefied natural gas limited and oil joint venture are profitable assets that should not be considered for sale.

Such profitable assets, the NLC president said are legacy assets that should be preserved for the future generation.

Wabba who described the proposal as worrisome said the proceeds of the sale of national assets in the past could not be accounted for.

Also, the Trade Union Congress (TUC) accused those behind the proposed sale of some of the national assets are enemies of Nigeria.

TUC president, Bobboi Kaigama, warned that Nigerian workers would fight back of the presidency adopt the proposal.

The revenue mobilization and fiscal commission has also asked the presidency to reject the proposal and instead source the needed fund from the international monetary fund and other multilateral agencies.

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