Obasanjo Supports Sale of National Assets


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Olusegun Obasanjo who is the ex-President has lent his voice to the ongoing saga that is the Nigerian recession. He said that he is in support of the sale of some of the nation’s assets.

He also stated that the federal government should be wary and not sell the nation’s assets to cabals.

According to the Punch, he said this at the opening of a two-day  National Council of Finance and Economic Development conference held in Abeokuta.

Obasanjo said of the sale of national assets; “I do not see why 48 per cent of the NNPC cannot be privatised. “I think the problem is in the coinage “selling of asset” as if we want to throw out our inheritance.

“I think the problem is in the coinage “selling of asset” as if we want to throw out our inheritance.

“What we are actually doing by that is simply reorganising.

“It should however be done transparently and let it actually go public and not to cabals, their relations and friends.

“This is always the fear of Nigerians when issues like this arise.”

He also noted that he had foreseen this recession and had warned against it. He also said it was a problem Nigeria brought on herself.

“For me, we have brought it on ourselves, we don’t have to wring our hands and say ‘where are we? In a simple layman’s language, the situation is that we are spending more than we are earning. We have not been able to save, so that we can go and take from what we have saved.” Obasanjo said.

“If you are spending more than you are earning, you will have to spend less, you earn more and you borrow.

“For us, we are to do the three as quickly as possible, we must borrow and we must go to the people that will give us loan with reasonable interest.

“You may do it with the World Bank or the International Monetary Fund. I don’t say we must not go to them. When I was in government, I never say no to them, but don’t do their bidding. Out there, there is money but people will not part with their money unless you are doing the right thing.”

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