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Federal Government To Sell Off Some Government Owned Properties To Fund 2021 Budget

Federal Government To Sell Off Some Government Owned Properties To Fund 2021 Budget

The Federal government has on Tuesday, January 12 announced that it would be selling off some government-owned properties as well as non-oil assets to fund the 2021 budget.

This announcement was made by Minister of Finance, Zainab Ahmed in her budget presentation titled ‘Public Presentation of 2021 FGN Approved Budget – Breakdown and Highlights’ which has been shared online.

According to the document, the federal Government plan to use the revenue generated from the sale of these assets to fund the deficit of the budget.

However, the document did not state the assets to be sold, neither did it state the expected revenue from the sales.

In November 2020, the Bureau of Public Enterprise in a document presented to the Senate committee on Privatization disclosed that the Federal government plans to sell the Integrated Power Plants in Geregu, Omotosho, and Calabar at N434 billion in 2021.

The document presented revealed plans by the Federal government to also concession the National Arts Theatre, Tafawa Balewa Square, and all the River Basin Development Authorities at N836 million.

Also, the National Stadium in Lagos, the Moshood Abiola Stadium, Abuja, and two others were pegged for concessioning at N100 million.

Federal Government To Sell Off Some Government Owned Properties To Fund 2021 Budget

 

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