Nigeria’s population of about 200 million lives below the threshold of US$1.90 (792 Naira) daily. Nigeria accounts for about 14% of the world’s poor.
The abject state of poverty among the majority of the Masses seems to be of no concern to the government.
President Muhammadu Buhari recently laid the 2023 budget before the National Assembly. The budget put at N20.51 trillion has since passed second reading at The National Assembly.
Reacting to the budget, Senator Ali Ndume (APC Borno South) queried the rising recurrent expenditure captured in the budget despite the embargo placed on employment by the federal government and the hundreds of retirees recorded on a yearly basis.
According to him, the N8.2 trillion earmarked for recurrent expenditure in the proposed N20.51 trillion 2023 budget constituted 43 per cent of the entire budget profile. He also dished out figures showing that since 2018, Nigeria`s recurrent expenditure had been constantly rising.
In an alarming twist, the Federal Government is compiling the list of assets that will be either sold or ‘concessioned’ to fund the 2023 budget deficit of N10.7tn.
According to The PUNCH,Sources at the Ministry of Finance, Budget and National Planning told The PUNCH that the government was considering selling or concessioning the Tafawa Balewa Square in Lagos as well as all the National Integrated Power Projects in Olorunsogo, Calabar II, Benin (located at Ihorbor), Omotosho II and Geregu II plants.
More than 25 of such projects will be turned into active assets that will be generating money in some ways to the Federal Government.The government is also planning to sell or concession all the hydro power plants across the country, including Oyan, Lower Usuma, Katsina-Ala and Giri plants.
More than 25 of such projects will be turned into active assets that will be generating money in some ways to the Federal Government.
At a ministerial briefing on Wednesday in Abuja, Finance Minister, Zainab Ahmed, had said that the Federal Government would offer some of its assets for sale through equity investments. She said the government would toll some of the federal roads to raise revenue.
The struggling Nigeria economy might need lots more than selling off government owned properties.
More info
https://punchng.com/budget-deficit-govt-may-sell-tbs-nipps-25-key-assets/
