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There are no plans to sell off Federal Government assets, says Minister of Budget and National Planning, Udo Udoma

Nigeria’s Minister of budget and National Planning, Udo Udoma, has disclosed that Nigeria has no plans to sell national assets as a panacea for the current economic recession in the country.

Udoma made this disclosure ahead of the upcoming Nigeria Economic Summit.

Some Nigerians including Africa’s richest man, Aliko Dangote, and President of the senate, Bukola Saraki, had called on the government to sell-off capital-intensive but dormant establishment in the country.

Kicking against the call, the minister explained that government’s main strategy is to implement capital projects in the 2016 budget and source for funds to reflate the economy.

“Our goal is to unlock the economic potentials of the non-oil and high-employment sectors, so as to achieve a sustainable inclusive growth that will ensure that the majority of Nigerians become more productive, thereby reducing poverty.” he said.

He said government appreciated that the down-turn in the economy has brought hardship to the people, adding that they are committed to redressing the situation.

Udoma reiterated that the strategy is to reflate the economy through fiscal stimulus and strategic implementation of annual budgets.

Source: AfricaNews.

About Dr. Idris Ahmed

Dr. Idris Ahmed is the President and founder of the CUPS organisation. He is a Cryptologist (Mathematical science of designing and breaking computer security systems). He is the founder and Chief Executive officer of Tecomex Forensics Ltd (www.tecomex-forensics.com). He is passionate about fighting corruption, enhancing democracy, and establishing good governance in Nigeria. He is the Editor in Chief of the cupstv.com website.