The Revenue Mobilization Allocation and Fiscal Commission, RMAFC, on Tuesday frowned on proposals by some prominent Nigerians for the federal government to sell the multi-billion dollar Nigeria Liquefied Natural Gas Limited, NLNG, to raise funds to reflate the economy.
With the country’s economy officially in recession, government has been considering several options to fuel a speedy recovery.
A ministerial retreat convened last week recommended an ambitious fiscal stimulus plan involving the generation and injection of massive foreign capital, estimated at between $10 and $15 billion (about N4.72 trillion) into the economy to help the recovery process.
The Minister of Budget and National Planning, Udoma Udoma, said one of the ways to fund the plan would be through sale of some national asset to raise needed capital for infrastructure development.
To add his voice in the search for solution to the economic crisis, Chairman, Dangote Group, Aliko Dangote, proposed the immediate sale of Nigeria LNG, along with other dormant government assets.
The proceeds would be invested in the economy.
“The only way for us to get out of this recession is to make sure we move into action quickly; by diversifying the economy quickly.
“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times. It doesn’t make any sense for me to keep any assets and then suffocate the whole organisation.