The Senate President, Dr. Bukola Saraki, has asked the executive to raise capital from the sale of government assets and other sources to shore up reserves.
Senator Saraki made this recommendation as the Senate resumed plenary after a seven weeks’ recess.
Addressing lawmakers, Senator Saraki said that the sale of assets would calm investors, discourage currency speculation and stabilise the economy.
He recommended part sale of the NLNG Holdings, reduction of government share in upstream oil joint venture operations and sale of government stake in financial institutions.
Senator Saraki also recommended several other measures to address the country’s economic challenges, including the privatization and concessioning of the major and regional airports and refineries.
The Senate has resolved to engage in a two-day debate on these recommendations and submit to the executive.
