” The government is exploring several options in the asset sales proposal including repurchase options, which would make provision for buy-back of those assets when the situation improved”
Nigeria’s Minister of Budget & National Planning
By the way, Buhari should release the names of those who “have been willingly returning stolen money” with amounts against their names and let Nigerians have the total.
Udo Udoma, how much will Nigeria have to pay to “buy back” these assets when it decides to exercise its “repurchase option” and who has read the Nigerian palm as to how it would finance the buy back?
While announcing that government “will not sell ALL assets”, Udoma might have given away the impression when one examines the finality of the wording of his press statement. It does appear the deed may already have been done and no amount of protests can change what had possibly been done before the theater of the absurd of the past week staged to deceive Nigerians was put on.
President Buhari is happy with his “change begins with me” which is on in earnest; Saraki is a very happy man; so is Dangote and/or his “be it Chinese”; so is Udo Udoma, Always Looking Scared & In Over Her Head Adeosun must be happy and, of course, States’ governors with fresh funds … until next time, Nigeria.
Once governors collect their allocations, salaries would still accrue; infrastructure that the president announced to the world were completely absent, et cetera would most likely still be absent … BECAUSE $10 to $15 billion is not really much when we talk about all the fancy things Adeosun claims whatever we realize from this unfortunate fire sale that has apparently happened FOR A COUNTRY.
What do we sell next: Nigerian masses would be sold during modern slavery?
“$10 or $15 billion to fund the 2016 BUDGET” with about three months left in the year spells great danger to the same economy Buhari & his men want to revive!
Can anyone spell p-r-o-c-u-r-e-m-e-n-t-s? It’s also called supplies in Nigeria.
The euphoria of mid-week that saw a Central Bank Governor reduce what should be a sober submission by the country’s top financial institution’s head reduced to what I described as beer parlor language AND the Finance Minister let slip “Quick Wins” for the economy from the sale of their homeland’s china, can best be understood in these circumstances.
Why, in the world, would feeding Primary 1, & 3 be of great importance in a country that wants to find a quick solution to a recession? How could that feeding “mean a lot” – as Adeosun claims – to a parent, for example, with a child in one of those classes and two others in higher classes? Even a non-economist like me knows that if salaries are paid, parents can feed their children, and more important is the fact that government should not start a program which requires not only long planning but continuity once it starts.
Even as President Buhari keeps quiet on the sale of assets, Osibajo’s leadership of the economic team that includes all governors have told Nigerians loud and clear where Buhari stands: that any/all/whichever assets that would provide a quick rush for the rulers – like a credit card in the hands of a spendthrift – MUST BE SOLD.
It is a national calamity.
I will end this essay like the one preceding this but amending the title of the post by Senator Sheu Sani’s opposition to the sale of Nigeria’s assets:
“Dangote, Saraki, Others [who have apparently sold ] any Nigerian assets are economic predators”.
SATURDAY, SEPTEMBER 24, 2016. 11:50 p.m. [GMT]