Finance: Nigeria government is to sell these National monuments to finance 2018 budget

Selling these key National assets was stated as one of the plans to finance government spending in 2018.

On Monday 27 November 2017, Ben Akabueze who is the Director General of the Budget Office affirmed that the Federal Government has finalized plans to sell some National assets to generate revenue for annual budgets between 2018 and 2020.

According a local media, Daily Post,Mr Akabueze  explained that the country is not generating enough revenue, therefore, it had become effective to borrow and borrowing would stop if revenue generation rose.

Also Read: Reasons Nigeria cannot stop borrowing, even as debt hits $6.66 billion and increasing

Amongst some of these assets to be sold are the National Integrated Power Plant (NIPP) plants, National Parks, as well as the National Arts Theatre and Tafawa Balewa Square in Lagos.

Other assets being sold also are non-core assets which include mines and steel sector, houses, and estates.

The Committee was also told that the power generation plants constructed on behalf of the government by the Niger Delta Power Holding Company (NDPHC) under the NIPP were going to be sold too.

These include the Alaoji Power Station in Abia State, a 1074 Mega Watts (MW) capacity plant; the 561MW capacity Calabar Power Station; the Egbema Power Station, a 338MW simple cycle gas turbine plant and Geregu II Power Station in Kogi State with 434 MW capacity.

The funds from the privatisation of these government assets will be used in the 2018 budget to finance the budget deficit of N2.005 trillion.

from pulse.ng - Nigeria's entertainment & lifestyle platform online