Nigerian Senators Tuesday voted against the proposed sale of the country’s national assets including a 49% stake in the Nigeria Liquefied Natural Gas (NLNG).
Senate majority leader, Ali Ndume, moved a motion urging the upper legislative chamber 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 Nigerian 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 the National Economic Management Team led by Vice President Yemi Osinbajo; billionaire Aliko Dangote and former Central Bank of Nigeria Governor, who is now the Emir of Kano, Muhammad Sanusi II, supporting the sale while organised labour led by the Nigeria Labour Congress (NLC), former CBN Governor Charles Soludo and former Education Minister, Oby Ezekwesili, kicking against the kicking against the idea.
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