Ndume: Senate Rejects Sale of Assets but Believes in Concession


By Omololu Ogunmade in Abuja

Senate Leader, Ali Ndume, at the weekend said the Senate only opposed the sale of national assets but is strongly in support of concession of such assets to cushion the biting effects of recession.

Ndume who made this disclosure in Abuja, further explained that the Senate opposed the sale of national assets because it had observed lack of federal government’s preparedness to adhere to constitutional provisions on sale of public assets.

However, he said concessioning the assets was in order since the country would still retain their ownership which he said could be taken over again after being managed for some time by individuals or groups in accordance with the concessioning agreement.

He said: “The Senate of the federal republic of Nigeria in its recommendations rejected the sales of national assets as way out of the country’s economic problems. Let me however make it clear that what prompted it’s decision was because the process was without recourse to the laid constitutional provisions of doing so. However, it is safe to say much as the senate rejects the sales of our nation assets, there is the other option of concessioning which we are open to. As such, it cannot be said the matter is foreclosed.

“Under concessioning agreement, the nation will over time take back these assets after being run and managed by those with whom a Memorandum of Understanding was entered into”, Senator Ndume added.