Senate Rejects Proposed Sale Of National Asset

sale of national asset

The Nigerian Senate has rejected the proposed sale of national asset by the federal government.

The present administration of Muhammadu Buhari had earlier proposed the sell some of Nigeria’s asset to order to revive the country’s economy.

Some have issued support for the proposed sale while many Nigerians are opposed to the plan. Those against the move argue that previous sales barely helped the nation’s economy. The Nigerian Labour Congress (NLC) has even planned a nationwide protest to oppose the planned sale.

The Federal Government claims that the sale of the asset would reduce borrowing and has even suggested that if it eventually adopts the policy, it would insist on a re-purchase clause.

The Senate meanwhile after extensive deliberation took to oppose the government’s attempt on Tuesday at the resumed plenary.

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