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Buhari Plans To Sell off Public Assets To Fund 2019 Budget

Buhari Plans To Sell off Public Assets To Fund 2019 Budget

Buhari Plans To Sell off Public Assets To Fund 2019 Budget, is this fare?  The Former Vice President, Atiku Abubakar has unveil Muhammadu Buhari plans to sell off public Assets. As a matter of facts, the President Muhammadu Buhari-led administration has map out plans to sell off some national assets to fund the 2019 budget.  Atiku Abubakar describing the move as fiscally irresponsible.

Buhari Plans To Sell off Public Assets To Fund 2019 Budget

The President Buhari Accused Past PDP Leaders

President Buhari accused past PDP leaders of failing to build public infrastructure on Monday. This took place while delivering the 75th Anniversary Business lecture of the Island Club, Lagos.

 

What Atiku Abubakar is saying

Atiku Abubakar the Former vice-President speaks during the opposition People’s Democratic Party (PDP)’s national convention. This took place at Port Harcourt, Rivers State on October 6, 2018. The Nigeria’s main opposition People’s Democratic Party (PDP) has picked Abubakar to challenge President Muhammadu Buhari. Who is seeking a second term in presidential polls scheduled for February 2019. AFP PHOTO In a response by the Atiku Presidential Campaign Organization, APCO.

The former Vice President said; it is an irony. That some of the assets listed for sale in the policy document of the Buhari Administration, wre assets built or established under the PDP administrations, that governed Nigeria from 1999 to 2007. Saying some of them were his brain child. If the PDP did not build infrastructure, as alleged by President Buhari. Who built these assets that this administration wants to sell to fund their 2019 budget? As head of the Economic Management Committee during the (Olusegun) Obasanjo administration, Atiku supervised the successful policy of privatisation.

 

Why did Privatisation works?

As a matter of facts, Privatisation works because it is a long-term strategy to engender efficiency in the economic system and expand the frontiers of private sector activity. Its primary goal is NOT to raise money for short term stabilization of what is clearly a fragile fiscal system. The government’s planned sale of assets will cause long term pains and only provide short term gains. A statement from APCO on Wednesday read. The campaign organization said it made no sense “to sell public assets simply to fund a ‘business-as-usual’ budget that is essentially 70% recurrent. It is irresponsible to part with valuable assets simply to consume the proceeds (Like selling your family house to take a trip overseas on holiday).

 

Such A Day Would Come

We knew that such a day would come. This is why Atiku has occasionally made it clear that; what is needed at this time is fiscal restructuring to eliminate our addiction to oil revenues. We should strengthen our internal revenue generation capacity. Furthermore,  restructuring our budget in favour of capital spending. Simliarly, Atiku questioned the wisdom behind government’s sharing $322 million Abacha loot to certain Nigerians. In less than days, the issue of $328 million loan from China came up. This was allegedly for information and C communication Technology, ICT, development. “Rather than share that money,“the Buhari administration ought to put that $322 million into an escrow account. This ought to fund the 2019 budget.

In like manner, we recall that $43 million was found in an Ikoyi apartment. The Buhari administration failed to come clean on who was behind those monies. He further made bold declaration that those funds should equally be used in funding the 2019 budget.

 

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