RECESSION: You Can't Sell National Assets, Senate Tells Buhari

The Nigerian Senate, Tuesday rejected the calls for the sale of the

country's national assets.
On its social media handle, the Senate said it “rejected prayer 3 of the

recommendations of the Ad Hoc Committee which sought for the sale of

National Assets to shore up Foreign Reserve”.
This was during the proceeding of Senate Plenary for Tuesday 27th of

September 2016.”
Senate Leader, Ali Ndume stood vehemently against the sale of the assets

even as other senators backed him. “The senate oppose sale of National

Assets to shore up Foreign Reserves”
The Senate President, Dr. Bukola Saraki, had last week in his address to

lawmakers recommended that the executive should raise capital from the

sale of the nation's assets and other sources to shore up reserves.

He said the sale of assets would calm investors, discourage currency

speculation and stabilise the economy that is in recession.

However, lawmakers are strongly opposed to this recommendation.

The lawmakers also approved a recommendation that the National Assembly

should amend Section 162 of the Constitution to give legal backing to the

executive to save money for times of economic slump.

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