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FG targets N5tn from asset sales

Minister of Finance, Mrs Kemi Adeosun

The Federal Government is looking at generating as much as $16.4bn (N5tn at N305 to the dollar) through asset sales in the next four years to reduce the burden on the public budget.

The sales will help to tackle inefficiencies and stem “corruption in public enterprises,” according to a document prepared by the Ministry of Budget and National Planning, obtained by Bloomberg, which outlines the country’s plans for economic recovery from 2017 to 2020.

The document did not state the assets that the government might sell, but President Muhammadu Buhari is expected to introduce the proposal on an unspecified date this month.

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