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Recession: Nigeria insists on asset sales despite backlash
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Recession: Nigeria insists on asset sales despite backlash

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The primary objective of the Nigerian government’s fiscal stimulus plan is not about selling off all major national assets, the Minister of Budget and National Planning, Udoma Udoma, has said.

He said the government was considering selling off some asset in a way that would be profitable to the country.

Mr. Udoma, who was briefing journalists in Lagos on Friday on the forthcoming Nigerian Economic Summit (NES), said the government’s intention was to raise immediate funding to reflate the economy and finance critical capital projects in the 2016 budget.

Estimates from recent ministerial retreat showed the government would need between $10 and $15 billion (about N4.72 trillion) to stimulate economic recovery.

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