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Business & Finance

Recession: How We Plan to Sell Nigeria’s Unused Assets – Kemi Adeosun

Kemi Adeosun
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Nigeria’s Finance Minister, Kemi Adeosun, has stated that the presidency is considering selling some of the nation’s unused assets.

“I think there are a number of assets that are being considered and I don’t think we have said this one or that one,” she told newsmen recently in Abuja . “There are some unused assets that are just lying idle, which people have come and suggested that ‘these things you are not using, can we lease them from you for money?’

“Hence, when they lease them from us, the taxes are still going to come to us. So, there are some things the government is sitting on, we don’t have money to do it, it makes sense for me to unlock those things. So,they bring money into the economy at these difficult times so that we can move forward.

“We have not got to the stage of saying it’s this asset, or that. But it’s more of the conversation around should we just keep on borrowing or shall we know that things are a lot more difficult than we envisaged and turn on to an alternative strategy, which is looking at some of the underutilised assets and releasing them.”

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When quizzed on what type of sale arrangement the government was considering, she said it depended on the asset classes.

“It depends on which one. There are some assets which you can lease and others you may need to divest from. The investor will also have to look at the risks and the pricing. Some assets just make sense to just leave them and there are some, which you may just sell but still hold on to the majority stake.

“So, it makes sense and you can sell to the Nigerian people and list on the Nigerian Stock Exchange. So, there are different kinds of sales.”

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