Nigerian: The Nigerian Senate Senate Breaks From Saraki, Opposes Sale Of National Assets

The Nigerian Senate has taken a step away from the position of its president, Dr. Bukola Saraki and has voted against the sale of Nigeria’s national assets, the crown jewel being the country’s stake in the Nigerian Liquified Natural Gas Company Limited, NLNG.

‎Ali Ndume, senate majority leader, moved a motion at the plenary session on Tuesday, September 27, 2016 urging the senate to reject the proposal for the sale of the nation’s assets.

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

Senate President Bukola Saraki put the motion to a voice vote to which “the ayes had it”.

Last week, the upper legislative chamber, had debated on ways to get the economy out of recession.

On Tuesday, the recommendations from the debate were harmonised and presented as resolutions to the executive.

The federal government is mulling the sale of national assets to generate funds to finance key infrastructural projects, and to generate enough liquidity to pull the economy out of recession.

In a 14-point statement last Wednesday, Saraki recommended the sale of national‎ assets to shore up the nation’s reserves.

But, on Tuesday, his colleagues took the opposite position.

Debates over the idea of selling national assets have been raging for weeks, with Aliko Dangote‎, president of Dangote group, and Muhammad Sanusi II, emir of Kano, espousing it.

Chukwuma Soludo, former Central Bank of Nigeria (CBN) governor and Atedo Peterside, chairman of Stanbic Bank have criticised the idea.