FG to sell assets recover within six months
FG to sell assets recover within six months

FG to sell assets recover within six months

Federal Government is set to sell off all assets recovered in the course of the anti-corruption war within the next 6 months, the Minister of Budget and National Planning has said.Nigerians, especially the ruling class whose assets had been seized by the government were likely to lose them.

Udo Udoma made the disclosure before the Joint Committees on Finance, Appropriation, Planning and Economic Development of the House of Representatives during a budget defence.

He said that President Muhammadu Buhari has directed the Ministry of Finance led by Zainab Ahmed to execute the exercise.

He added that the government was determined to improve on the revenue profile of the country.

He said:

“The Ministry of Finance, working with all the relevant authorities, has been authorized to take action to liquidate all recovered, unencumbered (unburdened) assets within six months”.

The Minister also said that the Department of Petroleum Resources, DPR gas been directed to complete the collection of oil licences and royalties with three months.

“The Department of Petroleum Resources has been directed to, within three months, complete the collection of past-due oil license and royalty charges, including those due from Nigerian Petroleum Development Company (NPDC) (a subsidiary of NNPC), which it had agreed to pay since 2017″.

he said.

Giving more insights on the production quota agreed on by the Organisation of Petroleum Exporting Countries, Udoma stated that the president has directed that all efforts should be made to ensure the realization of the 2.3 million per day of oil production.

“Mr. President has directed the NNPC to take all possible measures to achieve the targeted oil production of 2.3 million barrels per day”,

he said.


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