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Recession: Senate rejects sale of national assets
After much condemnation by various stakeholders in the domestic economy, the Nigerian Senate Tuesday rejected the calls for the sale of the country’s national assets.
On its social media handle, the Senate said it “rejected prayer 3 of the recommendations of the Ad Hoc Committee which sought for the sale of National Assets to shore up Foreign Reserve”. This was during the proceeding of Senate Plenary for Tuesday 27th of September 2016.”
Senate Leader, Ali Ndume stood was quoted to have vehemently stand against the sale of the assets even as other senators backed him. “The senate oppose sale of National Assets to shore up Foreign Reserves”
The Nigeria Labour Congress (NLC) had resisted clamour in some quarters to sell national assets such as the Nigeria National Petroleum Corporation (NNPC) and Nigeria Liquefied National Gas (NLNG).
Factional President NLC, Joe Ajaero had said “Congress views with utmost apprehension the recent call on the Federal Government by some highly placed individuals to sell-off our priced national assets especially the Nigeria Liquefied National Gas Company to private entities.
“We were alarmed at the call but considered it inconsequential at that time but agreed to raise the red flag on it and watch events closely. Our fears have however rebounded greatly keeping us on our toes on reading the text of the welcome back address to the 8th Senate which has been on as usual unprofitable recess by its President, Dr. Bukola Saraki.
“We assert that this call is contemptuous of the Nigerian nation and its suffering masses. To seek to sell our remaining national patrimony is to say the least an attempt to mortgage our collective future in favour of a few economic cannibals and Buccaneers who unconscionably have commandeered the Nigerian state and its levers of power with the hope of using it to hijack our national patrimony.”
He added:“Nigerian workers and masses cannot stand by and watch this group of jobbers whose source and history of wealth is well known to many Nigerians further plunge this nation deeper into the mud under the guise of seeking solutions for the perhaps contrived economic recession.
“Those whose actions in the past have all cumulated into the economic mess are now seeking avenues to offload and launder their stolen wealth.
“Historically, no nation has had to sell off its treasures as a means of resolving recession. A man that trades his house for food will have no place to stay after the hunger is assuaged. The idea of selling off assets such as the NNPC and by extension the nation’s holdings in the JVCs, the NLNG, shares in international financial institutions such as ADB and IFC are rather paradoxical. It amounts to mortgaging the future of our unborn generation so that few individuals can satisfy their yearnings to control our national patrimony.
