• Cross River Speaker tells FG to reduce 2016 budget rather than sell our assets

    Cross River Speaker tells FG to reduce 2016 budget rather than sell our assets

    The Speaker of the Cross River State House of Assembly, Mr John Gaul-Lebo, has advised the Federal Government to revise the 2016 Appropriation rather than sell national assets.

    Already, the Federal Government has listed some conditions in its bid to sell some national assists.

    Speaking with the News Agency of Nigeria (NAN) in Calabar on Wednesday, Gaul-Lebo said national assets should not be sold to raise funds to bail the country out of its current recession.

    He suggested that rather than sell the […]

  • Why FG must not sell national assets – Falana

    Why FG must not sell national assets – Falana

    Lagos lawyer, Femi Falana (SAN), has urged government and Nigerians to oppose the sale of the country’s assets, particularly in the oil and gas sector of the economy.

    Business mogul, Aliko Dangote, had suggested that the Nigeria Liquefied Natural Gas Limited (NLNG) be sold as a way out of the present economic recession.

    The Minister of Finance, Kemi Adeosun, was also quoted as saying the money realised from the sale of the company would be used to fund the 2016 Budget.

    But in […]

  • Breaking News: Senate votes against sale of national assets

    Breaking News: Senate votes against sale of national assets

    The senate on Tuesday voted against the sales of National assets in tackling the current economic recession ravaging the country.

    ‎The senate took the decision, following a motion by Minority Leader, Senator Ali Ndume, urging the upper legislative chamber to reject the proposal for the sale of the nation’s assets.

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

    Senate President Bukola Saraki put the motion to a voice vote to which “the ayes had […]

  • Recession: Fed Govt lists conditions for assets sale

    Recession: Fed Govt lists conditions for assets sale

    More facts are coming up on the Federal Government’s plans to sell some assets in a bid to push back the recession that has hit the economy.

    Certain conditions must be met before the sale, which is expected to boost Nigeria’s foreign reserves – a critical factor for potential foreign investors.

    The conditions, include:

    inserting a repurchasing clause in the assets sales agreements; and

    no outright sale of the yet unnamed assets.

    A Presidency source, who pleaded not to be named, said: “The Federal Government […]

  • Sale of national assets: Prepare for mass revolt, united Labour tells FG

    Sale of national assets: Prepare for mass revolt, united Labour tells FG

    Oeganised Labour, weekend, advised the Federal Government to jettison  planned sale of national assets, to avoid mass revolt and civil unrest that will be worse than the anti-SAP riots of 1989.

    The Nigeria Labour Congress, NLC; Trade Union Congress of Nigeria, TUC; the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG; and Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, in one accord, told government that it would be playing with fire should it go ahead to sell […]

  • Falana Tells FG Not To Sell National Assets

    Falana Tells FG Not To Sell National Assets

    The lawyer also wondered why the Senators did not object to suggestions made by certain prominent Nigerians.

    Femi Falana, a Senior Advocate of Nigeria, has called on the Federal Government not to sell the nation’s assets to raise money.

    The lawyer also said it is in violation of Section 16 of the constitution of the Federal Republic of Nigeria, objects to the controlling of the nation’s asset by some few people.

    Falana said “But for selfish considerations, a few legislators who may be […]