Former President Olusegun Obasanjo Backs Sale Of National Assets


Former President of Nigeria, Chief Olusegun Obasanjo, has yesterday, backed the call for the sale of some national assets to revive the current ailing economy.

Chief Obasanjo who  ‎endorsed the sale of the assets at the opening ceremony of the National Council On Finance and Economic Development Conference (NACOFED) held in Abeokuta yesterday September 27th, said there was nothing wrong in selling some of the nation’s assets to revive the economy.

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Olusegun Obasanjo

“I do not see why 49 per cent of NNPC cannot be privatised. I think the problem is in the coinage “selling of assets” as if we want to throw out our inheritance.

“What we are actually doing by that is simply re-organising. It should however be done transparently and let it actually go public and not to cabals, relations and friends. This is always the fear of Nigerians when issues like this arise.”

He also advocated borrowing to finance critical sector of the nation’s economy. He also said there was a need to spend less on goods that the nation can do away with, earn more from the manufacturing sector and borrow to finance the economy.

Chief Olusegun Obasanjo also advocated financial discipline with the necessary political will to implement the various policies and programmes of government aimed at taking the country out of the recession.

Also speaking at the 2016 World Pension Summit in Abuja yesterday, the former President said that former state governors who were in office during his administration ‎contributed to the current economic recession as they refused his government to save for the rainy day.

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“I remember when I was in government and I told, particularly, the governors, ‘please let us save for the rainy days.’ They said no!. There was no rain at that time, now that the rain has come; there is nothing we can fall back on to cushion us.”

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