Nigerian Senate opposes proposed sale of National Assets

The Nigerian Senate has rejected the idea of selling National assets as a means of shoring up foreign reserves. 

The lawmakers also asked President Muhammadu Buhari to urgently prepare and submit an Economic Stimulus Bill containing incentives designed to pull the country out of recession.
The rejection of sales of the national assets to shore up Nigeria’s dwindling foreign reserves is part of the recommendations made by its adhoc Committee on State of the Economy and adopted by all senators.
Meanwhile, the Senate advised the executive (to shore up foreign reserves) to urgently engage in dialogue with militants and relevant parties in the Niger Delta in order to return the country to the projected production of 2.2 million barrels of oil per day.
The Senate also asked the executive to urgently negotiate foreign concessionary loans to cover revenue shortfalls in the implementation of the 2016 budget.