FG to sell N289bn assets to fund budget

The Federal Government will offer 10 state-owned companies for sale to selected investors and the public in the fourth quarter to raise N289bn toward funding the 2018 budget, the Bureau of Public Enterprises said.

According to a Bloomberg report on Monday, preparations are in the final stages to begin the sale of the companies in industries that range from power through aviation to insurance, a director of the BPE, Joe Anichebe, said on Saturday in Abeokuta.

President Muhammadu Buhari had signed a record N9.1tn budget into law in June, with a smaller fiscal deficit compared with the previous year, which the government seeks to fund from sources other than revenue from oil, its main export.

Source: The Punch

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...