The Nigerian Senate has made its decision on the proposed sale of national asset by the President Muhammadu Buhari-led federal government in a bid to shore up foreign reserves and revive the economy in recession.
Information posted on the senate’s Twitter handle said the lawmakers “rejected prayer 3 of the recommendations of the Ad Hoc Committee which sought for the sale of National Assets to shore up Foreign Reserve”.
During its plenary today (Tuesday) at the National Assembly the legislators unanimously voted against the sale of national assets (including NLNG) as proposed by the federal government.
The Senate majority leader, Ali Ndume, had moved a motion during the plenary, urging the senate to reject the proposal for the sale of the nation’s assets.
“I move that the senate oppose the sale of national assets to shore up our reserves,” Ndume said.
The Senate President, Bukola Saraki, later put the motion to a voice vote to which “the ayes had it”.
It would be recalled that the federal government had proposed the sale of some national assets to revive the economy and suggested that if it eventually adopts the policy, it would insist on a re-purchase clause.
Last week, the senate debated on ways to get the economy out of recession.
In a 14-point statement last Wednesday, Saraki had recommended the sale of national assets to shore up the nation’s reserves.
But today (Tuesday), the matter took a different dimension.
The recommendations from the debate were harmonized and will be presented as resolutions to the presidency.