FG Should Not To Sell National Assets – Femi Falana

FG Should Not To Sell National Assets – Femi Falana


Femi-Falana1Femi Falana, a Senior Advocate of Nigeria, has called on the Federal Government not to sell the nation’s assets to raise money.

The lawyer also said it is in violation of Section 16 of the constitution of the Federal Republic of Nigeria, objects to the controlling of the nation’s asset by some few people.

Falana said “But for selfish considerations, a few legislators who may be queuing up to participate in the purchase of the nation’s assets are not prepared to defend the Constitution.

“If the senate is genuinely desirous to contribute meaningfully to the debate on the economy, it should, as a matter of urgency, propose a substantial reduction in the jumbo emoluments of federal legislators which are said to be the highest in the world.”

Adding that “It is on record that whereas the federal government had spent billions of Naira to renovate the properties, each of them was fraudulently sold for about N50 million.

“Many other properties of the federal government in Abuja, Lagos and other cities were undersold to many public officers and their cronies. Apart from the recovery of the NET building in Lagos which was sold to the father of a legislator for N4 billon instead of the market value of N75 billion, the sale of the other 531 properties of Nitel and other agencies of the federal government located in the various parts of the country have not been accounted for.”

The Senate President, Bukola Saraki had earlier suggested that the nation’s assets be sold so as to stimulate the economy.

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The lawyer also wondered why the Senators did not object to suggestions made by certain prominent Nigerians.

Aliko Dangote said the government should consider selling off the Nigerian Liquefied Natural Gas (NLNG), and other dormant but huge capital-generating sectors, and invest the proceeds in the economy.