The Minister of Budget and National Planning, Senator Udo Udoma has said that the proceeds from the sold National Assets will be used to implement the 2016 budget.
The minister said this in a statement issued by his Media Adviser, Mr. Akpandem James and added that the Government had already lost around half of its revenue this year.
According to the Punch, Udoma stated that this unfortunate turn of events has made it imperative for the government to find ways in which to inject funds into the system to keep things running.
The funds, he said, would be injected through proceeds of asset sales, advance payment for license rounds, infrastructure concessions, use of recovered funds, and much more.
The plan is not to sell off all the assets, rather just enough to get the country back on its feet.
The minister said that none of Nigeria’s major assets would be sold and that for the ones sold, the government would be looking at options to repurchase and other means to minimize loss.
Udoma said;
“With more patronage, Nigerian producers will be encouraged to improve the quality of their products. As the quality of Nigerian-made goods and services improve, international demand for them will increase.
“The fastest route to grow the economy and to create jobs for the teeming population is by pursuing export-led growth. Export-led growth will add to the country’s foreign reserves and stabilize the naira.”
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