President Bola Tinubu’s Policy Advisory Council has proposed the sale of Nigeria’s assets to settle existing federal government debt obligations.
The advisory council, put together by Mr Tinubu to support the delivery of sustainable and inclusive economic growth, consists of Tokunbo Abiru (chair), Yemi Cardoso, Sumaila Zubairu and Doris Anite, with KPMG listed as the consultant.
The council called on Tinubu’s administration to set a policy directive that all proceeds from the sale of assets must be used to settle the existing federal government’s debt obligations.
Other fiscal recommendations, according to the council, include listing the shares of strategic and profitable Nigerian National Petroleum Corporation Limited (NNPCL) subsidiaries, leveraging blockchain to create and provide access to a government land registry and regionalising and concessioning the power transmission grid.
The council also recommends privatising, concession or selling down the federal government’s stake in corporate assets to partners and other investors (possibly with a buyback option) to generate liquidity in short to medium term, with a focus on sub-optimal assets such as NNPCL refineries.
Credit: premiumtimesng.com
